Thanks for writing about this Dr. VP. Voters need to be educated about how these bonds work. The money just doesn’t magically appear out of thin air, never having to be repaid, with no interest charges! In a state whose credit rating is less than stellar, which translates to a higher interest rate on our bonds, why do voters consistently approve bond measures? Notice the subject of the bond measure is always something meant to tug on voters’ heartstrings: schools, veterans, libraries, healthcare. If these measures are so important, include them in the state budget.
This is not the first proposition of this type. California's proposition system is abused regularly, to the point where I think we would be better off without it.
The state and the entrepreneur serve different purposes. Trying to shoehorn the government in as some kind of protector of science only ends up exposing it to politics.
Vinay, Many years ago Louis B. Mayer, the famous producer, had a clause written into a Federal bill that described a "group" who did military service during this period, and made such and such a contribution during this period, etc., etc. and stated that anyone who met those criteria had done so much that they were permanently exempt from the income tax. Funny thing...Even though never named, Louis B. Mayer was the ONLY person in the world who met all the criteria. If this isn't the same situation, I do not know what is. The world is full of grifters...100% of what goes on in the world is someone coming after your money...you just often do not know how. This is yet another example. We are all idiots to stand for it.
It got an impressive number of organizations, especially patient ones, to support it; along with Governor Newsome. At least the SF Chronicle came out strongly against it.
Is the $8mm a year just interest or interest and principle? If it is just interest, that is a great return for the bond holders. I wonder how related the bond holders are for the this whole thing..
" The State " is a mechanism used to extract vast sums of wealth and power from the people and put it into the hands of those Shielded From View.
Thanks for writing about this Dr. VP. Voters need to be educated about how these bonds work. The money just doesn’t magically appear out of thin air, never having to be repaid, with no interest charges! In a state whose credit rating is less than stellar, which translates to a higher interest rate on our bonds, why do voters consistently approve bond measures? Notice the subject of the bond measure is always something meant to tug on voters’ heartstrings: schools, veterans, libraries, healthcare. If these measures are so important, include them in the state budget.
Strange that I didn’t get this analysis when the State sent us the proposition explanations.
California loves bonds. It's like free money! Big fat credit cards you never have to pay back, though your grandchildren will have to.
Easy to spend Other People’s Money.
A couple of weeks too late for this advisory, VP
This is not the first proposition of this type. California's proposition system is abused regularly, to the point where I think we would be better off without it.
This stinks, even worse than the UK's biased University research funding councils and that takes some doing!
The state and the entrepreneur serve different purposes. Trying to shoehorn the government in as some kind of protector of science only ends up exposing it to politics.
what could possibly go wrong?
I so wish this graphic had been readily available before the election…might have motivated the anti-billionaire club…
Vinay, Many years ago Louis B. Mayer, the famous producer, had a clause written into a Federal bill that described a "group" who did military service during this period, and made such and such a contribution during this period, etc., etc. and stated that anyone who met those criteria had done so much that they were permanently exempt from the income tax. Funny thing...Even though never named, Louis B. Mayer was the ONLY person in the world who met all the criteria. If this isn't the same situation, I do not know what is. The world is full of grifters...100% of what goes on in the world is someone coming after your money...you just often do not know how. This is yet another example. We are all idiots to stand for it.
It got an impressive number of organizations, especially patient ones, to support it; along with Governor Newsome. At least the SF Chronicle came out strongly against it.
Is the $8mm a year just interest or interest and principle? If it is just interest, that is a great return for the bond holders. I wonder how related the bond holders are for the this whole thing..
Important points and timely