Thursday, June 01, 2006

Proposition 82

"Given California's tax-happy political culture, it is no wonder the wealthy and the successful are leaving the state in droves. According to the Wall Street Journal, the number of Californians reporting million-dollar incomes plummeted from 44,000 in 2000 to 25,000 in 2003—at a cost of $9 billion in lost tax revenue. Even the stock market downturn after the "dot-com" bubble burst cannot account for such a dramatic decline. It is time policymakers finally learned the lesson of the early 1990s, when an increase in the top income tax rate to 11 percent elicited a mass migration of the wealthy to more friendly environs, precipitating a fiscal crisis. Less than a decade later, it appears California is intent on repeating that costly mistake."

Read Your Official Ballot Pamphlet Carefully and You Will See:

  • A $2.4 billion increase in taxes and spending only increases pre-school attendance by 4% under Prop 82!
  • Prop 82 provides for just 3 hours of pre-school a day!
  • Under Prop 82, just 3 hours of pre-school may cost as much as $8,000 per child.
  • Prop 82 lets the current Sacramento bureaucrats create a huge new expensive bureaucracy, then lets the politicians impose a new tax, a Parent Tax, when there is a cost overrun! A Parent Tax?


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