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Politics : View from the Center and Left

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To: epicure who wrote (14953)	3/30/2006 11:43:58 AM
From: TimF	of 541045

A common myth about public finance in California is the belief that government is spending less money than before Proposition 13, the landmark tax reduction initiative passed in 1978. Figure 3 shows state and local spending as a percent of personal income - one of the most widely used ratios for comparing to other states and for making historical trend comparisons. The graph shows that, by the late 1980s, California spending had rebounded to surpass its pre-Proposition 13 peak. The growth trend continued until the latest year in the chart, which shows a decrease because of the deepening recession that gripped California in 1992-93. caltax.org caltax.org Also see pacificresearch.org

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