California Commentary from 10/2008
Damn the Economy! Full Taxation Ahead!
October 26, 2008These are creepy times for taxpayers -- the creepiest in memory. Between the state and local ballots, there are hundreds of measures that would increase the burden on taxpayers. If all or most of these tax increases and bonds pass, it will be Halloween every day as taxpayers are compelled to dole out big dollar treats to our political class. Read more >>
No One Is Laughing Now
October 19, 2008According to Bloomberg News, the California Public Employees Retirement System (CalPERS) has lost almost $67 billion in 12 months, more than 25 percent of its value, as stock and bond markets tumbled. The California State Teachers' Retirement System (CalSTRS) has also lost 25 percent of its value. This is not good news for taxpayers, who are already on the hook for several hundred billion dollars in unfunded liability for public employee pensions and retiree health care plans. Read more >>
Scary Times Made Scarier By Property Tax Bills
October 13, 2008For many, these are scary economic times as the value of homes and investments declines. Adding to the anxiety, property tax bills are arriving in mail boxes across the state. Read more >>
More Debt? You've Got to be Kidding!
October 6, 2008Even in the best of times, the three major bond proposals on the November ballot would merit a thumbs down. Propositions 1A, 3, and 10 would put taxpayers another $16 billion in debt to fund some dubious projects. Read more >>
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