Do you want it to be easier to raise taxes in California? If yes, Sacramento has a proposition for you!
Specifically, Proposition 5. If you think that California needs to reach deeper into your pockets, you’ll love it.
If, though, you think too many governments have taken on too much debt and left core services at risk, then vote NO. If you want to make it just a bit harder for governments in California to take more of your money, vote NO.
Obviously I’m a “no.” But let’s say that you don’t traditionally agree with me or the person you’re forwarding this to traditionally doesn’t. Perhaps instead the trusted source is the San Francisco Chronicle. Welp, I have good news for you. The SF Chronicle tells you to vote “no,” too. And when I agree with the SF Chronicle, you know darn well that a policy or proposition that we oppose has to be wrong.
But what is Proposition 5? Quick primer. Since 1879, our California Constitution has required a 2/3 voter threshold for local bond measures. Voters lowered that to 55% for local school bonds in 2000.
What has that reduction in voter threshold produced? California Policy Center looked at that answer. From just 2001 to 2014, CA voters faced 1,147 ballot measures proposed by school districts for bond issuance. Voters approved 911 of them, allowing districts to borrow a total of $110.4 Billion. California voters also approved $35.8 Billion on three statewide ballot measures. In total, California voters approved $146.1 Billion in bonds over 14 years.
The last 10 years haven’t helped the balance sheets either. Since 2001, more than 80% of school bonds have passed, adding $20 Billion in new debt in 2022 alone.
Big-government spenders have seen this debt explosion and want to dramatically expand it by reducing the threshold for “housing projects” and “public infrastructure” to 55%. What is “public infrastructure”? Anything you want it to be apparently.
When the LA Times endorsed Prop 5 (of course they did), at least they were honest why with this headline: “Yes on Prop 5. It’s too hard to raise local taxes.”
Exactly. Keep it hard. Vote NO on 5.
