Free Republic

Defying some of his strongest supporters in the race for governor, state Treasurer Phil Angelides on Thursday threw his support behind a November initiative that would use taxpayer money to fund campaigns and would markedly restrict political donations to candidates. The decision to endorse Proposition 89 puts Angelides at odds with Gov. Arnold Schwarzenegger, his Republican opponent. The initiative would increase the tax on corporate profits by 0.2% to create a public war chest of about $200 million that would be distributed to candidates. Schwarzenegger has rejected Proposition 89 because it would increase taxes. He also said recently that he...