CA: As of Today..the Gun Did It..Jan. 01, 2003

[Gary H]

Yup, a gun's manufacturer can now be held liable for someones misuse of the same.. I don't know if they plan on going after the person holding the gun. Maybe it is even worse if the gun says something non-pc before it does the deed. That would be a firearms hate crime. They will be able to put a firearm in jail for that one. Bad gun..

Today also marks the beginning of more taxes. They take 3 1/2% when we sell our homes .. Happy New Years from California Democrats.

 

[Yo]

The ugly truth

In his first 3 years in office, Gray Davis increased state spending 37% (despite a faltering economy) and added 15% more state employees. The amount of that increase works out to... about $1000 per resident, roughly equivalent to (surprise, surprise), the projected $34 billion deficit.

The budge crisis was not inevitable. It was a direct creation of Davis' profligate spending policies.

Let's see--3.5% on average home price of about $360,000. Kommissar Davis just reached into your pocket and took $13,000.

 

[Ted Bell]

My wife said she'd like to retire to Palm Desert. I told her to write me when she gets there. No way I move from a freedom loving state to the PRK.

 

[Gary H]

When I first heard of this 3.5%, it was reported to be a tax on commercial property. Last night it was reported as a tax on private housing. California is in for a rough four years.

 

[redhead]

Gary, what is your source for the 3.5% tax on private housing? As I read it in various articles, the 3.5% is a withholding on the sale of second homes and investment property, so that the state is assured of payment of the capital gains tax. It isn't actually a new tax, it's mandatory withholding in escrow. If you don't owe the amount withheld, it is refunded when you file your tax returns. I'm not defending the practice, I'm just reporting what my understanding is. I never read anywhere that it applies to your private residence, since there is an exemption on capital gains on the sale of your home, up to $500,000 for a couple.

 

[Gary H]

A couple of months ago I listened to a radio interview where this tax was discussed and it was applied only to commercial property. Last night, I was listenening to our local "all news" station and they were reviewing new laws. That is where it was presented as a tax on private home sales.

 

[4v50 Gary]

The CA law was enacted after a lawsuit against gun mfgs failed because of the then existing law. Let's hope that the U.S. Congress overrides this nonsense.

 

[SIGarmed]

Me thinks this doesn't really mean the industry will be liable.

There just will be no more protection law. Many states don't have these laws.
This means the industry will be spending more money on frivolous lawsuits and it doesn't mean they'll win less. The problem is that the anti's are trying to bankrupt the industry and thats what the real problem is.