Thursday, November 29, 2012

Editorial: Prop. 30's pension boost

Taxes advertised for schools could go elsewhere. - OC Register

It took less than two weeks to confirm what we suspected: Much of the money from the Proposition 30 tax increases approved by voters is not going to go to schools, as advertised, but to teachers' pensions.

According to CalPensions.com, "More money for the underfunded California State Teachers Retirement System may be considered by the Legislature next year, thanks to new attention from lawmakers and a state budget deficit narrowed by a voter-approved tax increase this month."

...Gov. Jerry Brown, Senate President Pro Tem Darrell Steinberg, D-Sacramento, and Assembly Speaker John Perez, D-Los Angeles, "wanted to keep quiet about CalSTRS' problems during the election. Now they're not being so quiet."