In just two weeks time, people will gather around their local polling place to cast a vote on new laws and politicians. I’ll be honest with you, it’s kind of a scary time for me. People have ideas and priorities that seem so crazy to me that I worry about them.
This election has plenty to worry about. California seems to have a bunch of new proposition that, as I read through the information, seems absolutely insane. Just the first five propositions on the ballot propose $37.28B dollars in debt to be paid over 30 years. With interest, the state will end up paying about $37B in interest also. This means $2.48B in repayment every year. I don’t understand why we would want to incur even more debt when the state is already in financial difficulty. Why don’t they try doing what most people do when their income doesn’t match their expenses? Why don’t they try and cut unnecessary costs? I certainly wouldn’t want to increase my debt.
Another thing that I find interesting is that people are almost always willing to vote yes to increase property taxes. I think people who vote yes to this are not property owners and they think that property taxes don’t affect them. People don’t realize that their landlords will increase rent to cover the property tax.
Another proposition that I find interesting is Prop 87. The idea is to increase the tax charged to oil companies on oil drilled in California to make them “pay their fair share.” Of course, the backers of this proposition neglect to mention that they already pay state income tax. They then have the audacity to claim that it will be illegal for the oil company to pass this cost on to the consumer. Either the politicians who dreamed this up think that their law is more powerful than economic law, or they are just plain stupid. We all know that corporations exist to make money, and they will do everything they can to cut costs and avoid taxes. They will find a way to pass the cost off to consumers.
I think that these politicians really are stupid enough to believe that they’ve found a way to overcome the law of economics. Either that, or they are just plain stupid, and think that the voters are even more stupid.
So are the voters of California as stupid as those politicians and special interests think we are? For our sake, I hope not.