"Hot fun in the Summertime?"
Words.
"...According to the League of California Cities, L.A. would be forced to loan the state $67.7 million. The county would be particularly hard hit, giving up as much as $250 million. The overall impact on local government -- and your neighborhood -- is estimated at just over $2 billion.
Taking 8% of the property taxes now used to fund local governments would force deep cuts in the services and programs delivered by your city and county. Worse, a property tax shift fixes nothing. The state is obligated to repay the local governments -- with interest -- in three years. That just kicks the state's deficit down the road. This might make cynical sense for termed-out legislators and Schwarzenegger. But the state will have dug itself a deeper hole from which it's less likely to recover..."
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