Funding Failure

Jerry Brown has a problem. His state continues to spend billions more than it collects in taxes. Outlays for pensioners are starting to bite into day to day government functions. Unable to get higher taxes through his state's legislature Brown is turning to the voters with proposition 30, asking the voters to raise their own taxes. Proposition 30 is being sold to the public as a way to balance the budget and prevent cuts to schools and public safety. Brown parades around the state preaching that his citizens must accept the tax "for the children". Already the most tax burdened state in the union according to a Pacific Research Institute study, more taxes just continues the status quo. The revenue generated will not do much to fill this years 16 billion dollar deficit, nor go to schools, or public safety. That money will be used to shore up a broken retirement system that is underfunded by hundreds of billions of dollars.  The other sad truth is that much of the income ...(Read Full Post)