geez take a chill pill.
I know what Arnold says, NOW in the campaign period.
But I am telling you that we have a 65 billion dollar debt to deal with in this state, we have a state treasurer who is overtly saying that we cannot get a budget next year without tax increases, and we have already tripled the car registration fee (which was supposed to be a huge deal), and we've got the maximum income taxes and 8.5% sales taxes.
So do the math, why don't you. Tell me where we are going to get the money to pay down the debt. There is no money, we lost the tech workforce tax base AND stock market gains AND stock options. We just can't afford to subsidize you anymore Lazarus, and that is the reality. This state will default, or come close to it, and they will overturn this law.
But Californians aren't ready to give up on Prop. 13. People think their high property values are partially the fruit of their low taxes, and if they hamstring state government to preserve their paper net worth, that's a mortgage they can live with.
"It may be," says Isenberg, "that only a true fiscal disaster will make voters understand." But how far are we from that?
latimes.com
BTW if you want to come up with a tactical plan for making the budget, paying off the 65 billion dollar debt while keeping taxes as they are, I'd love to hear it. Remember you can't shut down the schools, because BY LAW (the same constitutionality as prop 13) HALF of the revenues for the state have to go to schools. So, that 65 billion to pay down the debt has to come from the "other" category.
Get it? |
