☆ Opinion: Prop 5 empowers local gov't to over-buy, over-tax, and over-borrow

Image from Clueless (1995). Alicia Silverstone stars as confident spendthrift Cher Horowitz in this modern film adaptation of Jane Austen’s Emma.

In an exclusive Opp Now comment, SJ Housing Commissioner Roberta Moore joins the resounding local chorus of Proposition 5 criticism. Moore argues that—by lowering California's “infrastructure” bond approval requirement from two-thirds to 55%—Prop 5 makes it easier for gov't to spend more of our money on less essential projects.

Prop 5 is a direct attack on our right to vote by lowering voter approval requirements from 66.6% to 55% for general obligation bonds. These already increase our tax bill by 60%. Prop 5 will allow unlimited increases on our property taxes because fewer voters will be needed.

We should not make it easier for all levels of government to borrow and spend our money without our approval. Let's instead hold the state accountable for delivering core services within their budget.

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I already feel suffocated, having a home and small biz here. Prop 5 will only make it worse. I know firsthand, the elected officials and government staff ignore the unintended consequences of these regulations for a worthwhile objective they rarely accomplish.

With the highest GDP and almost highest tax burden in the U.S., why does California need so much more? Only 3 or 4 states have a higher tax burden than California (in 2024, NY, HI, VT, and MA were higher). California has a higher GDP than all but 4 countries: US, China, Japan, Germany.

Moreover, California has 11 times more regulations than Idaho.

• Idaho 36,612

• California 403,774

Regulations are expensive. Regulations require hiring administrative staff that do not add to the bottom line. 91,314 CA businesses closed in 2023, losing 1.3 million jobs.

Prop 5 supports more red tape. Red tape is expensive, but does it add real value? Or, does it suffocate business?

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Related:

• SJ Housing Commissioner: Yep, I'm "concerned" about the projected Seismic Retrofit ordinance

• CA tax expert slams Prop 5 as “deceptive,” a covert entryway to residents' paychecks

• Opinion: BAHFA’s pivot to Prop 5: if you can’t win, change the rules

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