January 30, 2004

Editorial:

Proposition 56 will Tax You the Homeowner

Proposition 56. State Budget, Related Taxes, Reserve, Voting Requirements, Penalties — State of California (Constitutional Amendment and Statute, put on the Ballot by Petition Signatures - Majority Approval Required). Should the State Constitution and certain statutes be amended to allow the state legislature to pass the state budget and budget-related tax and appropriation bills with a 55 percent vote, and to make other changes to the budget process?

What this proposition wants to do is to lower the threshold at which the Legislature is required to be able to send to the Governor the state budget Bill.  At present it takes a 2/3 vote (67 percent) of each House of the Legislature. The same holds true for the passage of bills that increase or decreases taxes. Take for example in year if PROP 56 had been in effect, and the 55 percent threshold was all that was needed, $65 billion in new bonds would have been approved! Who would have to pay off those Bonds? You, the homeowner, the small business owner, the tax paying citizens & families, the middle class, will be paying the bill! We have noted that the major corporations and the wealthy pay little or no taxes. It is you the working class, and their children who will be stuck with the bill!

Why should the threshold be set high? Because the Working Class has no other way to protect them from the over- reaching power of the wealthy who with their money buy them in the political houses of the state and nation.

Vote NO ON PROP 56          

Letters to the Editor Return to the Frontpage