Proposition #: 55
A.K.A: Proposition 30 Tax Extension
Our vote: No
Are we alone? Nope. Check it out.
Here is the bottom line:
Proposition 55 breaks a promise made by Governor Brown to voters when he sold Proposition 30 (the taxes that 55 extends). Under 55 the wealthiest would owe more – even though their taxes already make up half of our state budget revenue.
If you’re making less than $250k a year you’re probably thinking this sounds pretty ok. It’s not. It further destabilizes education funding so the next time there is a recession our kids are going to be doubling up on desk space again. It also doesn’t force the legislature and interest groups (cough, CTA, cough) to pass some much needed and common sense reforms. If this passes the proponents will be back with hands outstretched to make this a permanent tax. By that point our wealthy friends will keep their CA house for vacations and permanently live in a friendlier state – like Texas.
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