Author Archives: Yisroel Pensack

Yisroel Pensack: Proposition 13’s Devastating Impact on Housing Affordability in California

A 21st-century follower of 19th-century political economist Henry George, whose classic “Progress and Poverty” was written in San Francisco and published there in 1879, has analyzed the effect of California’s property-tax-cutting Proposition 13 and found that that 1978 measure has … Continue reading

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Yisroel Pensack: Why Economists Cannot Think Clearly About Economics

The “Economix” blog at The New York Times today features an article headlined “Interest Rates and the Housing Cycle” by Casey B. Mulligan. Mulligan, an economics professor at the John D. Rockefeller-founded University of Chicago (read: citadel of privilege), treats … Continue reading

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Yisroel Pensack: Would-Be Tax Reform Attorney Frank D. Walker’s Reality Check

From: Frank Walker Date: April 14, 2010 …Prosper California is the tax-exempt political organization I founded to advance the LVT [land value tax] initiative I drafted. Although one person can draft an initiative to revamp California’s system of raising public … Continue reading

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Yisroel Pensack: Is Sarah Palin a Follower of American Economist Henry George?

According to an AP report in The New York Times: ANCHORAGE, Alaska (AP) — Records show that Sarah Palin has not paid any property taxes on cabins that have been built on two backcountry plots partially owned by the former … Continue reading

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Yisroel Pensack: Ballot Measure to Overhaul California’s Tax System Receives Clearance to Collect Voter Petition Signatures

The proponent of a constitutional amendment that would overhaul California’s tax system by abolishing or reducing taxes on earned incomes, commerce and industry has received authorization from state officials to solicit signatures needed to place the measure on next November’s … Continue reading

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Yisroel Pensack: Tax-Increment Financing for Transit Vetoed by Gov. Schwarzenegger

California Assembly Bill 338 (TIF for TOD) was vetoed by Gov. Arnold Schwarzenegger on Oct. 11. “This bill would eliminate voter approval requirements for the creation of an Infrastructure Financing District (IFD) and the issuance of tax allocation bonds by … Continue reading

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Yisroel Pensack: Southern California Attorney Submits Ballot Measure to Overhaul State’s Tax System

A Chula Vista attorney has submitted a proposal to the California Attorney General’s office for a constitutional amendment that would overhaul the state’s tax system via the voter initiative and referendum process. Frank D. Walker, 58, the amendment’s author and … Continue reading

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Wall Street Finds Profits Again, Now by Reducing Mortgages

The New York Times reports: …Wall Street has found a way to make money from the mortgage mess. Investment funds are buying billions of dollars’ worth of home loans, discounted from the loans’ original value. Then, in what might seem … Continue reading

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Yisroel Pensack: New IMF Report On Global Financial System’s Health Oblivious To Land Speculation And Its Remedy

A new report by the International Monetary Fund on the health of the global financial system fails to pinpoint or propose a cure for the obvious underlying cause of the world’s economic and financial problems, which is rampant speculation in … Continue reading

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