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California Governor To Propose Homeowners, Business Property Insurance Policy Tax
West News • January 10, 2008
California Gov. Arnold Schwarzenegger is expected to propose a 1.25 percent tax on homeowners and business property insurance policies when he unveils his state budget today.
"The expected ...
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| Subject | Posted By | Posted On |
|---|---|---|
| everybody gets hit? | bob | Jan 11, 2008, 4:30 pm |
| tax burden on sellers and buyers | MNE | Jan 11, 2008, 1:28 pm |
| RE: RE: RE: RE: Taxes on Insurance contracts | Agent/Broker | Jan 11, 2008, 1:17 pm |
| RE: RE: RE: Taxes on Insurance contracts | Bart | Jan 11, 2008, 12:53 pm |
| RE: RE: Taxes on Insurance contracts | FRED DIMEO | Jan 10, 2008, 7:00 pm |
| RE: Taxes on Insurance contracts | Furrie Princess | Jan 10, 2008, 6:28 pm |
| Taxes on Insurance contracts | Old Man Of The Mountain | Jan 10, 2008, 12:51 pm |
| Back to article | ||
Subject: RE: RE: RE: RE: Taxes on Insurance contracts
What this really is is a tax. This is not a fee on something you can chose to do without if you don't like the "fee." Property insurance is a necessity in a free economy. A "fee" on something you have no choice other than to buy is by definition a tax.
The insurance industry, read insurers, don't object. Why not? Because they need the Governor's good will and this proposal costs them nothing. It is merely a pass through for them. They become the tax collector.
This proposal is dishonest and I hope the agent/broker associations call it what it is.