Monday, May 15, 2017

Cal tax revolt

Tax rebellion: 
“Assemblyman Travis Allen, R-Huntington Beach, filed paperwork last week seeking a 2018 ballot measure to overturn SB1, a 10-year, $52.4 billion transportation funding bill narrowly passed by the Legislature in April,” the San Gabriel Valley Tribune reported. “The bill, also known as the Road Repair and Accountability Act of 2017, raises the state’s gas tax by 12 cents a gallon, boosts taxes on diesel fuel and imposes new annual fees on vehicles to tackle a road repair backlog exceeding $130 billion.”
Had nothing to do with roads,
The State of California is notorious for predicting spectacularly high pension investment returns, and then admitting lousy performance. But Governor Brown’s 2017-18 May Revised Budget admitted for the first time that the state’s and UC’s long‑term pension and healthcare liabilities jumped by $51 billion in the last year to $279 billion, “due to poor investment returns and the adoption of more realistic assumptions about future earnings.”
We have the millennial revolt against obligations they never voted for. 

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