In our earlier post on the proposed “free” universal preschool initiative here in California, we had to go dumpster-diving through the Secretary of State’s (no, not Condoleezza Rice) list of proposals that are in the signature gathering stage. Here’s a few that seem certain to reinforce California’s carefully managed image as home of the wacky initiative:

1140. State Holidays. Statewide General Elections. Initiative Statute.

Provides that statewide general election days shall be state holidays. Further provides that public schools and community colleges shall close on statewide general election days, and that certain public employees, including public school and community college classified employees, may be entitled to a paid holiday on statewide general election days pursuant to collective bargaining agreements. … Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Increased state costs of up to $18 million annually, depending on future collective bargaining negotiations.

Our comment: let’s have elections over a weekend — not add another holiday at enormous cost to the private sector (every parent of a school age child will have to take the day off). If you really want election day off, move MLK day to November from January.

1153. Casino-Style Gaming District. Initiative Constitutional Amendment.

Requires State to purchase, through eminent domain, 25 to 50 square miles of undeveloped land in San Bernardino County for casino-style gaming District, not to be part of county; instead, District controlled by District citizens. Requires District land to be sold to highest bidders. Prohibits state/local taxes or recurring fees on gaming operations within District. Provides that investment fees, casino profits pay for public programs. Establishes tracking system to prevent individual Californians from spending more than 10% of annual income on gaming. Voids provisions in existing tribal-State compacts requiring payments to State. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Potential major costs and revenues from the operation of a special gaming district - unknown net impact.

Our comment: for anyone longing for a return to the mob-operated Vegas of the 1950’s, this will be your chance! Playing the part of the mob will be either the big gaming companies, rich Indian tribes, or both. And you’ve gotta love the individual tracking system!

1149 Wealth Tax. Tax Rates and Credits. Initiative Statute.

Imposes one-time 46% tax on persons with property worth more than $40 million as of January 1, 2006, and who were California residents for at least five years as of July 1, 2005. Adds 6% to income tax for high-income taxpayers. Reduces corporate income tax rate by more than half. Eliminates alternative minimum tax, gift tax, and certain tax credits, such as those for head of household and dependents. Creates or increases tax credits, such as for teacher pay, public college tuition and health insurance costs. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: One-time increase in state revenues potentially exceeding $100 billion from imposition of a wealth tax. A portion of this revenue would be required to be allocated to schools with the remainder used for other state spending or tax rebates. Ongoing revenue loss potentially in excess of $10 billion annually.

Our comment: wow. Basically, Larry Ellison is going to finance the state of California. The author of the proposal sees it as a way to eliminate wealth disparity in the state … and when everyone in Silicon Valley and Hollywood moves to Seattle and Austin, there will be a whole lot of equality among those who remain. It will also thin the 2006 gubernatorial field … by his calculation, “Schwarzenegger, with an assumed net worth of $100 million, will likely get to pay about $30 million in taxes under McCauley-Rooker; Steve Westly, poor babe, could get clipped for upwards of $100 million in taxes.” Did I mention that Paul McCauley, the initiative’s author, is also a candidate for governor?

So — another paid holiday for state employees, a state-within-a-state, and the most radical redistribution of wealth in American history (did we mention that some of it will be used for bullet trains?). 2006 is shaping up to be a great year for blogging!

Technorati Tags: California initiatives, initiatives

This entry was posted on Monday, October 3rd, 2005 at 8:01 pm by A Senior Administration Official and is filed under 2005 Initiatives, California Schemin'. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.