Jerry Brown’s California Dreamin’
California Governor Jerry Brown aka "Governor Moonbeam" has hailed his Proposition 30 tax hike as a huge achievement that will expand education K-12 while sparing the budget stricken schools from failure. Problem is, the California schools don't know how to manage budgets, they waste money only to request the taxpayer's to help them out and fail at educating the students.
Worse yet, the ignorant voting majority in California voted to pass Prop 30. They deserve what they get which will be higher costs, nothing in return, more waste and eventually another tax request.
And how did Gov. Brown get that nickname "Governor Moonbeam?"
Coined by Mike Royko, the famed Chicago columnist, who in 1976 said that Mr. Brown appeared to be attracting “the moonbeam vote,” which in Chicago political parlance meant young, idealistic and nontraditional.
Calling the state “the world’s largest outdoor mental asylum” it may be said that nothing much has changed except they prefer to be lemmings, running from said asylum over the cliff.
“If it babbles and its eyeballs are glazed,” Royko noted in April 1979, “it probably comes from California.”
While Californian's continue to babble, with glazed eyeballs who is really going to benefit from the enormous tax increase the doofus voters brought upon themselves?
And Governor Moonbeam concurs.
"I know a lot of people had some doubts and some questions: Can you really go to the people and ask them to vote for a tax?'' said Mr. Brown on election night. "Here we are...We have a vote of the people, I think the only state in the country that says let's raise our taxes, for our kids, for our schools, and for our California dream.''
P.T. Barnum would have love that Liberal mantra "for the kids." As Mr. Barnum would say - "There's a sucker born every minute." Maybe twice as fast in California.
An interesting study by five UC Berkeley doctoral students titled “Swapping Our Future: How Taxpayers And Students Are Funding Risky UC Borrowing and Wall Street Profits” says that millions of dollars of the freshly raised revenues won’t go to California’s school children. Those poor, poor uneducated darlings.
But what do they mean by "Wall Street Profits?" I'm a capitalist, as in free markets and competition, not rigging the system for some to beat out others. To me aiding and abetting Wall Street in not only "Crony Capitalism" it's another form or redistribution of wealth.
According to the study, UC Board of Regents’ risky decision to move the University of California’s financial practices to bond issuances hedged by interest rate swaps cost UC $57 million and helped double its debt in the period between May 2007 and the end of last year.
As the California Political Review notes:
An increasing number of posts in top UC management and on the Board of Regents have been filled by former Wall Street bankers, the report explains, including a new CFO position created in 2009 and filled by Peter Taylor, who was the Managing Director of Public Finance for Lehman Brothers before he found himself out of a job following the firm’s spectacular collapse.
Monica Lozano, a UC Regent, also serves on the Board of Bank of America, a position for which she has received approximately $1.5 million. Bank of America stands to make as much as $28 million from an interest rate swap at UC San Francisco.
Proposition 30 boosts the California state sales tax a quarter of a cent for four years and raises income taxes up to 3 percent for seven years on Californians earning $250,000. Wow, that majic number of $250,000. In California and major cities that number shrinks rapidly based on cost of living. For small business owners that's gross earnings before operating expenses and taxes.
This is like insider trading with taxpayer money. Those poor kids........ Not to worry, Governor Moonbeam is proud.