Proposition 100—Real Estate Sales Tax

This would prohibit the imposition of a real estate sales tax in the future by any level of government in Arizona. The opponents seem convinced that such a sales tax will become necessary in the future. Supporters want to prevent the government from imposing a new tax just to generate more revenue in tough budget times.

Overview:
~97% support. I encourage a YES vote.
~Pretty everyone except the Arizona Education Association supports this proposition. Seriously. Everyone.
~Since we already pay property taxes, there is no justification for attempting to generate more revenue in a budget deficit scenario by creating a new and creative tax.
~It winds up slowing the sale of homes in an already down market.
~Whatever the tax would be (probably around 1%), this would become an automatic loss from your equity because it would become a part of the closing costs in every transaction.
~Not merely sales would be affected, but also every transfer, which could include divorces, movement into trusts, gifts, or even foreclosure potentially. It would, of course, depend on the precise nature of the law created.
~Why tax only one investment commodity like this and not others, such as bonds, stocks, gold, or velvet art?
~Governments need to learn to live within their means, not create new sources of revenue for no additional services when they have failed to do so previously.

Links:
Proposition 100 - Protect Our Homes by PBS 8
Prop 100 - Protect Our Homes by AZCentral.com
Yes on 100 by ProtectOurHomes.com
Home-sale fee may be put in jeopardy by AZCentral.com
Yes on 100 by UrbanLifeBlog.com
No on 100 by TucsonCitizen.com