It took less than two weeks to confirm what we suspected: Much of the money from the Proposition 30 tax increases approved by voters is not going to go to schools, as advertised, but to teachers’ pensions. (14 billion will go to pay for bad stock investments by the UC Regents..Facebook being one of them.)
According to CalPensions.com, “More money for the underfunded California State Teachers Retirement System may be considered by the Legislature next year, thanks to new attention from lawmakers and a state budget deficit narrowed by a voter-approved tax increase this month.”
We talked to David Crane, lecturer in the Public Policy program at Stanford University and president of Govern California. A Democrat, he has advised officials from both parties on pensions. “I’ve always thought the tax increase would create the money for them to fund the deeply underfunded CalSTRS pensions system,” he told us. He said Gov. Jerry Brown, Senate President Pro Tem Darrell Steinberg, D-Sacramento, and Assembly Speaker John Perez, D-Los Angeles, “wanted to keep quiet about CalSTRS’ problems during the election. Now they’re not being so quiet.”
Mr. Crane pointed to his own writings, collected on his website, DavidGCrane.org. On Bloomberg.com in July, he warned that Prop. 30 wouldn’t help the state budget without major spending reform. Rather, “Solving California’s budget woes requires addressing five root causes: unfunded health care promises to retired employees, excessive incarceration rates, a boom-and-bust revenue system, underfunded pension commitments and fast-growing spending on Medicaid.”
I would suspect that the Students of CSU who were promised money from Gov Brown in exchange for their support of Prop 30, are now better educated to understand what ‘The Check is in the mail’ means!
I seem to recall a certain sneering, mocking, progressive chump-sucker-jackass (who shall go unnamed) mocking Post Scripts “The horror!” about how this was only a small tax increase to solve a large problem.
You see, folks, this is how the progressive Democrats (i.e Rats) work. A little false, bald-face lying gouge at a time supported by duplicitous, colluding, or just plain stupid volunteer progressive retards like those who frequent Post Scripts.
(With apologies to the mentally specially abled, I am not referring to you and the disabilities you struggle to deal with in life.)
I am referring to ignorant cretins who allow and advocate this state to be controlled by Rat politicians who are bought and sold by powerful government/teacher unions and dozens of other special interests.
As long as this state is run by duplicitous, manipulative, liar, progressive Rats and their idiot (or cognizant) toadies, there will never be any real reform. Expect to be hosed even more, folks. Success leads to success, or rather successful screwing leads to more successful screwing.
California is dominated not only by a cabal of greedy and corrupt unions and the fat Rat politicians who pander to these highest bidders as well as a broad welfare and illegal immigrant base, it is also dominated by a majority of dupes who volunteer and vote for such fiscal insanity. As long as the Rats are in control, there will be no end to ever ballooning government bureaucratic dynasties, fiscal madness, and taxation.
As such, the state of California and its economy is owned lock stock and barrel by the Rats. There is nothing conservatives can do about it, let the Rats own it.
Since this state was stupid enough to re-elect master panderer and hoser Jerry Brown I believe the depths of the stupidity of a majority of California voters still has yet to be plumbed. Until the gravy train (financed by an enormous and ever increasing debt) dries up, it will never end.
Proposition 30 stands as not a mute, but a screaming testimony to progressive Rats and their irresponsible policies. Let them and their toadies own it.
I think that the passage of Prop 30 just means they won’t have to cut as much to fund those pensions. They were going to fund them anyway. And why not? I mean, what is wrong with people who work 9 months a year retiring at full pay after 20 years?
News Tip!
Sibling rivalry starts with disenfranchised, non-human, unviable, tissue masses in the womb — http://wtvr.com/2012/11/30/sibling-rivalry-video-shows-twins-fighting-in-the-womb/
“Much of the money from the Proposition 30 tax increases approved by voters is not going to go to schools, as advertised, but to teachers’ pensions.”
This is my shocked, stunned, and amazed face.
http://latimesblogs.latimes.com/washington/2010/10/jerry-brown-meg-whitman-videos.html