Playing Games with a Rainy Day Fund?
The news that Governor Jerry Brown will include a push for a rainy day fund in his budget proposal raises both hope and concerns. You see, there is already a rainy day fund proposal scheduled to appear on the November ballot. Will Brown support a strong rainy day fund measure or a weaker proposal than […]
Political Leaders Must Focus on CalSTRS Funding Crisis
The California State Teachers Retirement System (CalSTRS) funding crisis is real, immediate, huge — and to date ignored by California’s political leaders. In 2013, the state and school districts provided CalSTRS with less than half of its Annual Required Contribution (ARC), which is the minimally required pension contribution. The unpaid amount — more than $3 billion — […]
Market Closing Prop 13 Commercial Property Tax Gap
Almost 36 years after it was passed by voters, controversy continues to swirl around Proposition 13, the 1978 tax limitation measure. Periodic calls to repeal or modify it, supposedly to gain more tax revenue, so far have gone nowhere. The main objection is that it’s unfair because homeowners — and especially businesses – that have held […]
California’s High-Speed Rail Project Is Shaping Up To Be A Major Affront To California Taxpayers
If completed at anywhere remotely near current cost figures, it will be one of the most expensive public works projects in U.S. history. Put simply, it is the definition of a boondoggle; its final cost estimate, now totaling $68.4 billion, is up over 100 percent from its $33.6 billion total cost estimate in 2008. And […]