Read something this morning, that if true, needs to be realized when anyone talks about raising taxes or the problem with California’s fiscal situtation.
It’s a big scam. California has roughly 500 billions in investments and assets that are included in the CAFR aka comprehensive annual financial report, but studiously avoided when it pertains to debts and taxes. Read this and tell me what you think.
http://realitybloger.wordpress.com/2012/05/25/california-government-hides-billions-from-taxpayers/
Oh I certainly believe it and have suspected for years. Those assets include natural resources, land, etc. Mulholland spent years and years screwing the gullible in California for their water rights for a pittance in perpetuity. Likewise, about half the siphon-off of Hoover goes to Kallie IIRC. Land, assets in options/leases, oil drilling. Of course liberals won’t ever give that up, and they will lie, obfuscate, omit, cheat and steal to protect it.
Your link lost me when it started talking about the state employees’ pension funds as available for paying off current deficits.
It is well known that state pension funds, particularly in CA, not only do not have excess funds available, but are in fact wildly underfunded. To an extent that would be criminal if perpetrated by a private business.