For Governor Brown, the Good News Isn’t
California’s tax revenues are up, the unemployment rate is
inching down, business profits are improving and people are beginning to think
that just maybe the state has finally begun turning that financial corner.
Or, as Gov. Jerry Brown would say, "Damn."
Samuel Johnson once said, "The prospect of hanging
concentrates the mind," and there’s nothing like a good, strong whiff of fiscal
disaster to convince politicians and voters alike that Something Must Be Done.
But let those same folks get a hint that things might not be
as bad as they seemed, and all thoughts of tough choices and shared sacrifice
magically disappear. Call it the
No-One-Cares-About-The-Leaky-Roof-When-The-Sun-Is-Shining rule.
The Property Tax Revolt Grows in an Unexpected Place
In less than a fortnight, the much celebrated/often maligned
(depending on one’s viewpoint) Proposition 13 will mark its 33rd
anniversary. Ironically, a couple of days ago, the first-year Democratic governor
of New York engineered a deal to establish one of Proposition 13’s key
protections for taxpayers in the Empire State. Governor Andrew Cuomo cut a deal
with the legislature to cap most yearly property tax increases at 2-percent.
The New York proposal is not an exact replica of
California’s iconic property tax reform measure. But the yearly cap
acknowledges one of the important features of Proposition 13’s tax shield –
stop limitless property tax increases on defenseless taxpayers. Especially,
since property taxes often measures value of property and profits on paper only
but do not measure the taxpayer’s ability to pay.
In an echo to the Proposition 13 tax revolt, it was reported
that some seniors on fixed incomes were in jeopardy of being taxed out of their
homes under the current New York property tax system.
It is not just seniors, however, who feel the pain when
crushing property taxes are levied. The whole economy suffers.
Stop the “Money Pit” Campaign Launched to Abolish Redevelopment Agencies
Did you know that California taxpayers are subsidizing private
development, luxury golf courses and sports arenas to the tune of $5
billion a year?
Yes and remarkably, the independent State Legislative
Analyst’s
Office found there is no reliable evidence that these public agencies have created
any new jobs. All the while, politicians are cutting funding for police and
fire protection, parks and classrooms.
California taxpayer, you have just been introduced to California’s
redevelopment industry, aka "The Money Pit!"
There are some 425 redevelopment agencies (RDA) in California, located
in almost every California community. These relatively unknown agencies use
their power of eminent domain to forcibly seize places of worship, small
businesses and homes only to give them to politically connected developers on
the cheap. In turn, they use your tax dollars to underwrite development
projects – corporate welfare at its very worst. In some cases, this
scheme has led to public corruption.
“Similar” OK For Gadgets, Not OK For Biotech Drugs
If you want an iPhone 4 but
can’t afford it, it’s easy to find a similar Smartphone for less money.
The same is true when it comes to laptop computers. Magazines and blogs
are full of helpful tips for today’s discerning consumers to find just the
right laptop, the right phone, and even the right speakers that function
similarly to high-end models.
Some people would tell you
it’s the same with prescription drugs. We do know that generic drugs have
the same chemical composition as the originals. But that is far from true
when it comes to a new class of drugs known as biologics.
Biologics are complex,
large-molecule drugs. More importantly, they are manufactured using
processes involving living cells. They may have hundreds of compounds of
sugars, nucleic acids, proteins, or combinations in three-dimensional
molecules. But unlike gadgets, biologics’ imitator versions, known as
"biosimilars" can never be exactly the same as the innovator model.