“when you see tax increases, think pensions.”
The Pension Sink Is Gulping Billions in Tax Raises Remember that ‘temporary’ tax hike for California schools? Most is now going to public worker retirements.
The Wall Street Journal | By Steve Malanga
California Gov. Jerry Brown sold a $6 billion tax increase to voters in 2012 by promising that nearly half of the money would go to bolster public schools. Critics argued that much of the new revenue would wind up in California’s severely underfunded teacher pension system. They were right.
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