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Author Archives: Russ
Proposition 12: Veterans’ Bonds
Proposition 12 would issue $900 million in bonds to provide loans to California veterans to purchase homes and farms. It would cost $59 million a year to repay the debt (for thirty years). Supporters say that the Cal-Vet Home Loan … Continue reading
Posted in Legislation
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Proposition 11: Redistricting
If you’re a California resident you know that we have a dysfunctional legislature. One of the main reasons for this is that back in 2001 the Democrats and Republicans in the legislature drew up new districts. They made a deal, … Continue reading
Posted in Legislation
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Proposition 10: Alternative Fuel Vehicles
Proposition 10 would issue $5 billion in bonds. These bonds would then be used to provide $3.425 billion to aid consumers purchase high fuel economy or alternative fuel vehicles. Another $1.25 billion would be used for research and development of … Continue reading
Posted in Legislation
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Depression or Avoidance?
There’s a scandal in New York involving the Governor’s Chief of Staff. Charles O’Byrne is Chief of Staff to New York Governor David Paterson. He makes a good salary ($178,500 a year). He also owes $200,000 in back taxes—he didn’t … Continue reading
Posted in New York
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Proposition 7: Renewable Energy Generation
Proposition 7 has done something this election cycle that I would have thought was impossible: It is opposed by almost everyone. The opponents include the Republican Party, the Democratic Party, the United Farm Workers Union, the California Chamber of Commerce, … Continue reading
Posted in Legislation
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Proposition 6: Law Enforcement Funding
Proposition 6 requires specific funding for police and law enforcement, and adds several new crimes (mainly gang-related) to the penal code. It also changes sentencing, generally tightening (lengthening) sentences, especially for gang-related offenses. It is also estimated to cost at … Continue reading
Posted in Legislation
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Proposition 5: Nonviolent Drug Offenses
Proposition 5 is one of the few non-bond initiatives that could impact taxes on this year’s California ballot. Proposition 5 changes sentencing for drug offenses, which may be good or bad depending on your views. It definitely impacts taxes, though. … Continue reading
Posted in Legislation
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Propositions 4, 8, and 9
These three propositions do not directly impact taxes. Proposition 4 would mandate a waiting period for 48 hours before a minor could have an abortion. Proposition 8 would ban same-sex marriage. Proposition 9 adds victims rights to matters relating to … Continue reading
Posted in Legislation
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Not Much to Look Forward to When He’s 92
Irwin Schiff has about twelve more years left on his sentence. He’s 79, so the chance of him promoting his illegal tax reduction schemes was slight. It’s now zero. From Las Vegas comes the news that a federal court has … Continue reading
Proposition 3: Children’s Hospital Bonds
Yet another bond proposal. This one would raise $980 million in bonds to help children’s hospitals. The downside is that it would cost taxpayers $2 billion per year over $30 years to repay the bonds. The bonds would be used … Continue reading
Posted in Legislation
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