[extropy-chat] Eminent Mike's domain

[spike]

> Subject: Re: [extropy-chat] Eminent Mike's domain
> 
> Thanks everybody for the support...
> >
> > To hear what Mike had to say...
> >
> > RealPlayer: http://www.nhpr.org/audio/audio/ex-2005-07-27.ram
> > Windows Media: http://www.nhpr.org/audio/audio/ex-2005-07-27.wax

Mike's bit is minutes 11 thru 17.  Interesting program.

One thing Mike brought out that I had not realized is
that the SCOTUS ruling requires the em-domer to pay the
*assessed* value of the property, not the market value.
How would that work in Taxifornia?  Our prop 13 specifies
that the tax basis of a property is set by the price at
the time of purchase, then increases 2% per year thereafter.
After a few years the market value is higher than the
assessed value by a dramatic margin.  

We could make a fortune that would make Gates' paltry 
billions pale in comparison merely by seizing ordinary 
residential real estate at assessed value then selling
it utterly without investing in any improvements at
market value.  The public is served in a sense: the tax
basis is reset to the sales price, so Taxamento collects
on a much higher value.  So why couldn't I just go down
my street and apply to seize every home on it?  Why not
the entire Silicon Valley?  (cue maniacal laughter)  

spike