As always, the state has a spending problem, not a revenue problem. And check out the Transparent California website to see the unbelievably large pay and benefit packages received by California’s “public servants” if you really want to look at where our money goes. This initiative is just a chance to prop up the state’s existing spending addiction, backfill overburdened pension systems, and keep public employees flush with cash. Why reform anything when we can just raise taxes yet again?
There literally is never enough money for these folks, which is why if they qualify and pass this measure in 2020, it won’t be long before they blow it all and try to raise other taxes. Fortunately, the state’s business community will no doubt spend whatever it takes to defeat this proposal. But don’t be fooled by the “loophole” argument. Supporters aren’t trying to tighten up the tax code, but to tighten the noose around taxpayers’ necks.
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