SacBee=NO on 87
If you have been here before, you may have noticed the little box I have that says, "No on the Oil Tax Initiative." It appears we are not alone. The Sacramento Bee's editorial has agreed with us!
This is quite unusual, since Sacramento is a socialist town. Kudos are in order to the Sacramento Bee. Thank you.
"Proposition 87 mandates the expenditure of $4 billion and authorizes the new agency to sell bonds to incur this debt, regardless of whether the new tax will generate sufficient revenue to pay the principal and interest on the bonds. As a result, it creates a significant risk for the taxpayers and the programs funded by the State's General Fund."
This is quite unusual, since Sacramento is a socialist town. Kudos are in order to the Sacramento Bee. Thank you.
"Proposition 87 mandates the expenditure of $4 billion and authorizes the new agency to sell bonds to incur this debt, regardless of whether the new tax will generate sufficient revenue to pay the principal and interest on the bonds. As a result, it creates a significant risk for the taxpayers and the programs funded by the State's General Fund."
William Hamm, Ph.D.
Former California State Legislative Analyst
posted by Rosemary Welch at
9/24/2006 04:21:00 PM
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