In her July 2 Viewpoint (“Can’t afford a house? Don’t blame Proposition 13”), it’s obvious that Teresa Casazza of the California Taxpayers Association is making a preemptive strike. Her organization knows that more and more people are willing to at least consider modifying the nearly 40-year-old measure.

The reason is because California continues to struggle with its finances, despite being a huge international player with its economic engine.

However, Ms. Casazza chooses to ignore the fact that the real beneficiaries of Prop. 13 are huge corporations, which keep their assets and pay taxes on 35-year-old assessments. Saying they pay a lot is deceptive because their share needs to be viewed as a percentage of their worth, not as just a total number.

The real losers are young couples trying to buy their first homes. They get stuck with taxes based on today’s purchase price, while the fat-cat corporations laugh all the way to the bank.

Ms. Casazza loves to trot out the “before-Prop. 13-grandma-was-losing-her-home” bromide. That’s designed to distract you from the devastating impact Prop. 13 has had.