Letter: Vote No on Proposition 10, Tax the Wealthy Instead


Letter: Vote No on Proposition 10, Tax the Wealthy Instead

2018-09-26T08:29:19+00:00September 26th, 2018|Advocacy, Local Updates|

“Valerie McIntosh is in favor of rent control, and believes rich corporate landlords are overcharging tenants. The reality is many rental houses, duplexes and triplexes are owned by individuals or couples who have or are paying off a 30-year mortgage so they can have a little financial security when they retire. It used to be in the 1950s and ’60s if a house cost $10,000 the rent was 1 percent or $100 per month. I own a triplex and by those same standards I should be getting $1,400 more rental income. If you rent a house simply multiply your monthly rent by 100; if the house is worth more than that you are getting a good deal. A rent freeze sounds good to the tenant, but the cost of everything goes up; new roofs, carpet, drapes, water heater, paint, repairs, plumbing, insurance, property taxes, water and trash, and in that overhead has to be factored in the bad tenant who had to be evicted. That eviction covers lawyers, court costs, and often restoring a trashed dwelling unit, plus lost rental income. Then there are often gardening/maintenance fees and property managers take half the first month’s rent and a percentage every month there after. The real problem is wealth disparity which has just gotten much worse. A recent report stated wages for the working class rose 0.3 percent while CEOs earnings went up over 17 percent

Vote no on 10. Stop voting Republican! Make the switch, tax the rich.”

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