zentronix: dubwise & hiphopcentric

Saturday, August 16, 2003

STILL SINGING THE PROP 13 BLUES

More confusion in the Schwarzenegger camp as his chief economic adviser, the trillionaire Warren Buffett, speaks some sense for once and everyone goes ballistic. Buffett was quoted in the Wall Street Journal as saying Prop 13 had led to an unmanageable tax system--and he is joined by many economists. Many agree that Prop. 13's tax rollback has in fact been the major structural cause of Cali's horrible cyclical budget crises.

But both Arnie's conservative henchmen and Gray "Structural Budget Change" Davis decried Buffett's comments yesterday. Read about it here, Buffett Property-Tax Remarks Stir Debate.

The article then quotes a number of elderly white pensioners in the Valley as saying overturning Prop 13 would be nuts. This, after describing the economists' and some Dems' quite modest perennial proposal of loosening Prop 13 caps on taxes on businesses, not home-owners. Come on now. Let's get some real debate about the budget crisis, yall. For the last three decades, Cali's K-12 and higher education systems have been crushed by the politics of elderly white pensioners from places like the Valley. None of the candidates are talking about this, and I'm too cynical by now to think that any of them will...

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