A Switcheroo for Tom Campbell?
The San Francisco Chronicle’s Carla Marinucci reported recently that Tom Campbell may be dropping out of the governor’s race to run for the US Senate against Sen. Barbara Boxer. If this is true, it could be a blockbuster event in campaign 2010.
Campbell’s thinking seems driven by two realities; he doesn’t have enough money to compete in the GOP gubernatorial primary, and the nomination may be worthless anyway as some polling shows Attorney General Jerry Brown poised to win in a landslide.
But if he shifts to the Senate contest, he will have one huge impact – and it is not his nomination, but that of Assemblyman Chuck Devore. A Campbell candidacy probably finishes off the GOP establishment favorite, businesswoman Carly Fiorina. Her base is among the Silicon Valley GOP types, as is Campbell’s, and with the declining Republican Party in California, there is simply not room for two Silicon Valley Republicans.
A Formula to Reduce State Debt
California is sinking in a quicksand of debt but an initiative awaiting title and summary may have the answer to reduce the debt burden.
First, a review of the problem.
On Monday, the Assembly Budget Committee met to bemoan California’s rising debt obligation. With California sitting on $83.5 billion of long-term debt, the debt is costing the state treasury $6 billion a year. Over the last decade, cost of servicing the debt has increased 6.5 times faster than the increase of general fund revenues, which are used to pay down general obligation bonded debt.
Treasurer Bill Lockyer and Legislative Analyst Mac Taylor told the legislative hearing that bond service would hit ten percent in a few years. Since servicing debt has first call on the state’s revenue after schools that means that one out of every ten dollars will be used to retire debt and squeeze out funding for other government services.
The Year in Review: Top 10 Worst Tax Gimmicks of 2009
It’s been a rough year for taxpayers in California. As 2009 comes to a close, Californians find themselves clutching their wallets more than ever.
Below, a look at the diabolical, dangerous, and downright worst Tax schemes of 2009:
#10: As part of last summer’s Budget deal, Legislators agreed to sneak an additional 10% Income Tax Withholding from Californians’ paychecks just in time for the holidays.
#9: Claiming he could solve the State’s budget crisis with a single puff, Assemblyman Tom Ammiano introduced AB 390. He claimed the bill would close California’s budget gap to the tune of $12 to $18 billion by legalizing – then Taxing – marijuana sales.
#8: Desperate to find revenue, Governor Schwarzenegger threatened to solve the Budget crisis&hellip one Golf course at a time. His plan to tax “greens fees, monthly dues, and golf cart rentals” got caught in the rough. Perhaps he feared a nine-iron to the rear windows of his black Suburban?
A Holiday Gift for the Children of California
While most Californians may be busy preparing for the holiday season, a debate is raging in Sacramento that will impact the quality of our state for years to come.
The debate is about public education reform and the outcome will impact the earning capacity of our young people and the ability of California business to compete in the global economy for generations.
At stake is California’s share of $4.35 billion in Race to the Top funding from the Obama administration. The money is an incentive to states and local school districts to dramatically reform and improve public education in America.
So what is happening in Sacramento? On Nov. 3, the Senate passed a Race to the Top bill that would qualify California schools for funding and was hailed by reformers as a major step toward improving student achievement. But last week, the Assembly Education Committee failed to support the Senate bill on a vote of 6-5 with six abstentions. Instead it passed its own version, which has some positive elements, but overall is too watered down and meant to appease the unions for teachers and administrators.