Berkeley CSUA MOTD:Entry 12492
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2025/05/24 [General] UID:1000 Activity:popular
5/24    

2004/3/2-3 [Politics/Domestic/California/Arnold, Reference/Tax] UID:12492 Activity:high
3/2     I'm a little confused.  Does it make any sense to vote Yes on 58 but
        no on 57, or vice versa?  What's the alternative to 57-- bankruptcy?
        Higher taxes?  Ending school lunches?
        \_ 58 can only pass if 57 does. I am not sure if 57 can pass
           without 58, but I think so.
           \_ You've got it backwards: !58 => !57
              http://www.voterguide.ss.ca.gov/propositions/prop57-title.html
        \_ both are needed to pass to have any effect.  I wouldn't mind
           58 and 57 so much *IF* Arnie decided to raise just a bit taxes
           58 and 57 so much *IF* Arnie decided to raise just a bit taxes n
           and didn't cut car taxes.
           \_ What if he decided to only raise taxes for people in *your*
              tax bracket?  Would that be ok?
              \_ good point, and the answer is no.  this bond is about
                 as regressive as sales tax, where the wealthies pays a much
                 less portion of the burden than they should bear.
2025/05/24 [General] UID:1000 Activity:popular
5/24    

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www.voterguide.ss.ca.gov/propositions/prop57-title.html
March 2, 2004 Primary Election - Proposition 57. Secretary of State Elections My Vote Counts Feedback. Ballot Measure Summary Proposition 55. Proposition 56. Proposition 57. Analysis. Arguments and Rebuttals. Text of Proposed Law. Proposition 58. Bond Overview. OFFICIAL TITLE AND SUMMARY Prepared by the Attorney General Proposition 57 THE ECONOMIC RECOVERY BOND ACT. A one time Economic Recovery Bond of up to fifteen billion dollars $15,000,000,000 to pay off the states accumulated General Fund deficit as of June 30, 2004. The Economic Recovery Bond will only be issued if the California Balanced Budget Act is also approved by the voters. The bonds will be secured by existing tax revenues and by other revenues that could be deposited in a special fund. Summary of Legislative Analysts Estimate of Net State and Local Government Fiscal Impact: One-time increase, compared to a previously authorized bond, of up to $4 billion to reduce the states budget shortfall. Annual debt-service savings over the next few years. Above effects offset in subsequent years by higher annual debt-service costs due to this bonds larger size and the longer time period for its repayment. Final Votes Cast by the Legislature on ABX5 9 Proposition 57 Assembly:. Ayes 65. Noes 13. Senate:. Ayes 27. Noes 12. Copyright 2004 California Secretary of State.