Frank Editorial: How Billionaires Abuse California Families

How Billionaires Abuse California Families

by Stephen Frank, California Political News and Views Editorial, 12/20/11

In 1978 we were told that if we passed Prop. 13 police and fire departments would be closed, along with parks and libraries—oh, and streets might be cleaned once a year. This at a time when those on fixed incomes were losing their homes to the spiraling cost of property taxes.

Three weeks before the June,1978 election the LA County Assessor, Alexander Pope, announced that he was set to raise the property tax by 30% if Prop. 13 did not pass. From being slightly behind, to a landslide victory, Prop. 13 saved hundred of thousands of homes and the California economy. Had it been defeated, the California economy would have had an almost immediate Depression and the values of homes slashed almost in half—in a matter of days.

Now, we are facing the same abuse of the California families.

Governor Brown wants to raise taxes by $7 billion a year for five years—to raise a total of $35 billion. Half from income taxes and half from a sales tax increase. Yet, this fiscal year the deficit will be a minimum of $25 billion—the Brown tax is too little, too late. Oh, pass the tax increase and jobs will be lost and revenues will go down, not up. Browns’ efforts will be a total failure.

Then you have three billionaires, along with the ethically challenged Willie Brown and the two worst Governors in California history, Gray Davis and the amateur Arnold, wanting to raise taxes by $10 billion a year—forever. Part of the money will go towards “deficit” reduction and the rest to schools.

You should also know that the billionaires, along with Willie, Gray and Arnold do not believe in democracy. Under our current laws, if you want to put a measure on the ballot, you have two methods. You can get the legislature to vote to put it on. Or, you can get signatures to qualify your ballot idea.

The failed governors have a “better” idea. Their measure sets up an unelected commission that would be allowed to put their measures on the ballots without spending a dime of their own money. Guess that is how they became rich—by using other peoples’ money. You on the other hand would have to spend up to $2.5 million just to get a measure on the ballot.

Plus the billionaire Munger plan to raise taxes by $10 billion a year for twelve years, money going toward the deficit and schools. Then in the thirteenth year the money goes toward free tuition for all in state students going to the UC or State College system. This is how the Mungers will finance free college for illegal aliens—plus honest citizens.

Charles Munger, Jr. has a strange idea—his sister is the prime author—they want to “only” raise taxes on the rich. Their measure raises taxes on the rich, defined by them as folks earning $70,000 a year or more. Guess the Mungers have little idea what the cost of food, housing and living is.

We have a hedge fund manager, who specializes in alternative energy companies, planning a $1.1 billion tax increase, with half the money going toward alternative energy resources. In other words, a funding source using your taxes for his investments. He does say that maybe some of the money will go toward schools.

We will have an $11 billion water bond, plus health care bonds and possibly another $3 billion bond for the discredited embryonic stem cell research special interests and more.

Note that the billionaires and Brown believe the way to solve our deficit problem is to take money from families and businesses and transfer it to government. Not a dime of spending cuts in any of these plans. There will be at least three pension reform plans on the ballot—not one saves a dime for at least 30 years, when the systems will have collapsed years before.

In the meantime, Governor Brown wants to spend $200 billion for a choo choo train to no where. We were told it would cost $43 billion, now it is up to $98 billion. According to the bond there needs to be private investors in the project—yet no private investor is willing to risk a dime, and that should tell you something. Democrats and Republicans are asking for a new vote on this measure that passed due to the proponents lying about costs and ridership. Brown does not want a vote, the latest polls show 59% of California would say no to continuation of this union and special interest boondoggle.

Then you have the California Teachers Association—they support a millionaire’s tax. To them, a millionaire is someone who earns $500,000 per year. These people teach our kids, no wonder our kids do so poorly in math, their teachers think half a million is a million—maybe they just round it up to the highest number?

Forgot to mention California Democratic Party Chair John Burton. He has filed an initiative to create a 12.5% tax on oil coming out of California land. That means the cost of our oil go up by 12.5% -that is why California is an expensive place to live—and why California is in a Great Depression.

If all goes as Brown, the billionaires and the failed governors want, the day after the November, 2012 election U-Hauls’ web site and phone system will collapse. If Munger has his way the 10 Freeway to Arizona and the 15 to Vegas, the 80 to Reno will be gridlocked. Then California will look like a third world nation—the very rich and the very poor.

Will we fight to save California or watch reruns of Seinfeld? The choice is yours.

Democrats and billionaires just love taxing the rest of us.