Comments on: Low Interest Rates Will Kill Tax Hikes

By: Deb McCurdy

Deb McCurdy — Thu, 22 Mar 2012 15:47:40 +0000

Public schools in CA are hanging by their fingernails. The majority of them will have to file a negative budget next year if there isn’t some kind of funding infusion. $20 billion cut over the last four years. CA has the highest student to teacher, student to administrator, student to counselor ratios IN THE NATION. Right now we would have to spend an additional $60,000/year/per classroom just to catch up to the national AVERAGE. An educated work force will benefit CA for years to come. This is actually a do or die moment for CA public schools.

The PTA/Molly Munger tax initiative, “Our Children, Our Future” relies on a reasonable, broad based, sliding scale income tax on all but the poorest. It provides a more reliable funding stream than just taxing the wealthy. So, basically, I’ll be paying the same amount of money a year that I spend on wrapping paper, cookie dough and magazine subscription fundraisers at my kid’s school — and ALL the students in California will benefit. And I know that when ALL students benefit, the entire state of California benefits down the line. My vote is going with the only initiative that is not backed by a union. http://www.ourchildrenourfuture2012.com

By: Bob

Bob — Wed, 21 Mar 2012 05:39:17 +0000

There are even more taxes in the pipeline: cigarette taxes, oil taxes, gas taxes, out-of-state business taxes, and imposing reassessments for commercial property taxes every year instead of when a property resells, as is now provided under Proposition 13.

And let’s not forget all the local tax increases. The criminal idiots on the city council where I live want to see a local sales tax increase, a sewer tax increase and a phone tax increase along with a new tax on those who sell alcohol.

No matter how much these criminal clowns are allowed to steal it is NEVER enough.

By: JoeS

JoeS — Wed, 21 Mar 2012 04:05:59 +0000

Cut wages, benefits, retirements at EVERY level of government.

By: Beelzebub

Beelzebub — Wed, 21 Mar 2012 01:24:46 +0000

Very informative report.

Let me add a couple things. The manipulated and artificially low interest rates are referred to as ZIRP (Zero Interest Rate Policy) that is orchestrated by the Uncle Ben of the Federal Reserve, along with the complicity of the Federal Governement. Essentially it is a tax imposed upon savers and the retired who generally depend upon income from safe fixed interest investments. With passbook savings interest rates @ 0.5% or less it is virtually impossible for retirees to invest safely and survive. Many are forced to take higher risk in bonds or the stock market – which is bound to take a steep dive sometime in the next couple years. The Apple stock encompasses a dangerously high % of the total market capital. Eventually something very bad will happen to Apple – just like it happened to Cisco several years back. And when Apple stock takes a hit – so will all stock market indexes – especially the NASDAQ.

You see, ZIRP, the artificially low interest rates, is really theft from the average common saver and a bailout for the big corporations which receive billion dollar loans from the government @ essentially 0% interest rates and invest that money back into US T-bills picking up an easy 2% difference in profit. Savers are supposed to be rewarded. Instead they are punished and their money is being diverted over to the Too Big To Fails who own Capital Hill.

So there you go …….. now you know the rest of the story! 😀