Wednesday, August 15, 2012

“The most expensive ransom note in California political history” – pass the tax increase or the schools get it.

Gov. Brown Says Prop 30 Taxes Are All About Schools—Not So - Joel Fox/Fox&Hounds

The problem is that this tax increase proposal comes with no reforms for school funding, let alone other big-ticket items like pensions, and is likely a band-aid that would lead to more taxes in the future.

The schools are the focus of Brown’s kick-off at a school location but they are not the focus of the funds raised by the initiative.

The schools get no guaranteed new money from Prop 30. That’s not me saying so, that’s a comment from the California School Boards Association quoted in a Sacramento Bee article. “Despite endorsing Brown’s measure, (California School Boards Association) leaders said they ‘want to make it clear to the public that the governor’s initiative does not provide new funding for schools. Instead, it bolsters the General Fund with new revenue.’”

A Wall Street Journal editorial stated that, “The dirty little secret is that the new revenues are needed to backfill the insolvent teachers pension fund.”

California's Pension Tax - Wall St. Journal Apr. 22

Jerry Brown's tax increase won't finance better education.