We Still Need to Reform Deferred Retirement Plans
In these waning days of the 2018 legislative session, pension reform once again was shoved into the future. That can’t last forever. One bill I hope to bring back in an upcoming legislative session is Senate Bill 1433, concerning a clever retirement postponement gimmick called a Deferred Retirement Option Plan, or DROP, for police and firefighters. […]
Harris the Interrupter
When you’re the last in the lineup of many senators to speak in the nationally televised hearing for Supreme Court nominee Brett Kavanaugh, and you know many viewers will have turned off the proceedings when your turn arrives, you find a way to jump the line, especially if you are running for president. That’s what […]
Split Roll Property Tax Won’t Yield Expected Revenues; May Cause Havoc
Because activists, academics and government analysts don’t seem to understand how income property markets work, California’s proposed split-roll property tax is not likely to generate expected revenues. Most policy makers think that higher tax rates result in greater tax revenues. But income producing property markets work inversely to taxes by lowering property values when taxes are […]
The Modesto Girls
California changes too fast. The new so quickly replaces the old. People come and go with a blur. I often feel like you can’t count on anything staying here anymore. But you can count on the Modesto Girls. These five sisters—my first cousins, once removed—have never had glamorous jobs. They didn’t get fancy educations. Little […]
LA’s Liability Claims Are Out of Control
Liability claims against the City of Los Angeles have caused continuing nightmares for the City’s budget mavens. Over the last five years, the total payouts and settlements for legal actions totaled $541 million, an average of $108 million a year, double the amount for the previous five years (2009-2013) of $264 million, an average of […]