Rapidly escalating pension costs have raised concerns about the system’s sustainability. These increasing costs have diverted money from other priorities, writes Dan Walters in the East Bay Times. However, a recent Oakland tax proposal, ostensibly for the homeless, illustrates politicians’ refusal to admit they are actually raising taxes to cover pension liabilities. Click here to […]
A recent investigation has uncovered numerous incidents of inappropriate spending at CalTrans. After examining 256 complaints, including reported incidents of misuse of state resource and falsification of documents, auditors found more than $13 million in disallowed expenditures. Critics contend the underlying reason is that voters continue to approve more money for bureaucrats to spend without […]
$40 Billion of taxpayer money went to 80,000 pensions for retired public sector workers in 2018. 20% of that money was for six-figure checks, far over California’s median income. 47% of cities are high at risk of bankruptcy. Many state politicians want to raise taxes again to fund these inflated pension costs instead of trying […]
The Editorial Board of the Redlands Daily Facts calls CA Attorney General’s ballot summary “disreputable” and “cynically misleading”. The new “split roll” initiative would strip away Prop 13 protects for commercial/industrial properties. According to Becerra, it increases funding for schools and local services without mention of Prop 13 or a tax increase or hike. Ballot […]
While California is top ten for highest gas tax, individual/corporate taxes, and sales tax, Prop 13 keeps state property tax in the mid 30’s of all the states. The recent push by unions to chip away Prop 13 and raise property tax is the latest plot to fund the state’s generous public pensions. Click here […]
California Governor Newsom signed legislation implementing statewide rent control, even though a similar ballot measure was rejected by voters. According to Howard Husock of the City Journal, this rent control will stagnate housing production, the housing market, and doom older properties that won’t be able to keep up with maintenance costs. Click here to read […]
California voters have strongly rejected public campaign financing. That’s one of the reasons the Legislature recently lost in court when they attempted to pass public financing legislation anyway. Sacramento’s disregard for the will of the people highlights the arrogance of supermajority Capitol Democrats, writes Dan Walters in CalMatters. Click here to read the article.
As Sacramento politicians discuss how to allocate a recently approved sales tax extension, one key factor is being ignored: Pensions. Sacramento, like many other California cities, is headed for a major emergency if escalating unfunded pension liabilities remain unaddressed. The approaching crisis could lead to even more tax increases, Dan Walters writes in CalMatters. Click […]
Professor Sarah Anzia at UC Berkeley recently published a report analyzing the effects of high pension costs in California. In a policy brief published in conjunction with the report, she finds that raising pension costs are related to the loss of many local government jobs. This harms not only the public with lower staffed agencies, […]
Despite a soaring budget surplus and California schools having $2 billion more than estimated, it’s easier for California’s tax-and-spend interests to “say yes to taxes than to say no to spending” as Dan Walters puts it. As the state’s out of control pension system continues to be mismanaged, Californians have seen numerous tax increases and […]
