Part 1 of 2
While our attention has been drawn toward national politics, 10 state propositions will be on the ballot this November. It would be wise to pay attention to these propositions as they may have almost as dramatic an impact on our daily lives as who is elected president.
• Proposition 2: California wishes to raise $10 billion for public school and community college construction, upgrades, and modernization. Democrats in the Legislature are asking taxpayers to allocate about $17.5 billion over 35 years, including interest costs, to upgrade our state school facility infrastructure.
Many bond measures are slick scams to conceal new taxation. Bonds in the end often cost taxpayers nearly double due to interest and execution fees.
Funding this endeavor as a “bond” would cost us about half a billion dollars every year for 35 years instead of $1 billion over 10 years. Both methods of funding, pay-as-you-go or financed over time, essentially are paid from the same general fund. So why not just pay for direct expenses as they are incurred?
In general, I vote “no” on most bond measures in protest of unnecessary added expenses and attempts to hide the true burden of taxpayer obligations regardless of the merits of the measure.
• Proposition 3:........© Santa Clarita Valley Signal