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October 29, 2004
Election thoughts: props 61, 63.
Proposition 61 will authorize the state to put forth a bond measure to fund children’s hospitals.
Prop 63 adds a 1% tax incomes over US$1,000,000.
I’d probably be in favor of both of these things, were our state solvent. Since it isn’t, I don’t want to commit us to new spending. While Prop. 63 is a bit better in that it specifies where the money is coming from (hear that, George? Tax, _then_ spend! Not the other way around!), it solution may well cause a massive pullout of wealth from California. I don’t want to have to change the State Constitution yet again if things go badly. Let the Legislature handle this one...
Posted by Andrew at October 29, 2004 09:22 PM
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