It’s all about the pensions – just say NO! to tax increases

30 May

By the time you’re reading this, SCI, a consulting group, will have held two sessions at the Municipal Auditorium to convince Oroville residents how wonderful and profitable the marijuana industry will be for our city. That remains to be seen.

This is what we do know. Five Oroville city councilors took the vote on this issue out of the people’s hands. They are paying a consulting firm to stage an event so they can pretend they are listening to you and care what you think. The city is aggressively putting two tax measures on the November ballot, a sales tax and a marijuana tax. Leading up to the vote you will hear cries of insolvency, bankruptcy and public safety concerns. These are meant to nudge you into voting “yes” on both tax measures.

If the truth is to be known, this city’s No. 1 problem is the unaffordable mismanaged CalPERS retirement obligation. City councils cannot propose enough tax revenue to erase decades of unbridled incompetence by CalPERS managers or previous city councils who overpromised with no regard for taxpayer dollars.

The question is, should we give them more of our money, which at best, will only postpone the inevitable? Oroville city voters can choose to tax themselves once, twice or not at all. We get to decide if the city is overreaching once again.

— Lorraine Christensen, Oroville

This is why we don’t have a sales tax increase on the upcoming Chico ballot – because Tom Lando is too busy trying to push this measure through in O-ville. He’s tricky, but it’s tough to be in two places at one time. He’s hoping to shove through as many local tax increases as he can so we won’t be able to drive out to shop somewhere else. 

Advertisements

5 Responses to “It’s all about the pensions – just say NO! to tax increases”

  1. bob May 30, 2018 at 8:04 am #

    She’s right that these tax increases are not going to solve the problem. Sooner or later the pension issue will be addressed one way or another. The only thing the tax increases can do is put off the day of reckoning but not for long.

    We’ve had one of the biggest increases in the stock markets in history yet these pensions are still woefully underfunded and they are demanding tax increases. What’s going to happen when the stock market goes into a bear market? (At least 20% draw down.) We are way over due for a bear market. But even if we don’t get a bear market for another decade (very unlikely) these pensions are still toast if the market doesn’t go up at least 7% every year on average.

    The sad thing is that Oroville could set an example and deal with this issue head on right now. But that is not going to happen because all the politicians there are trough feeders, too.

    If you want to get an idea of what’s coming listen to this and check out the charts:

    http://financialrepressionauthority.com/2018/05/20/the-roundtable-insight-charles-hugh-smith-on-the-intensifying-pension-crisis/

    • Juanita Sumner May 30, 2018 at 10:11 am #

      Thanks Bob, I don’t think I’ve talked enough here about the futility of these attempts to shore up the rotten pension system. Public employees are going to have to come to terms with their own ridiculous demands that the rest of us foot their outrageous lifestyles.

  2. mardi May 30, 2018 at 11:25 am #

    There’s a conversation that’s long overdue.

    I read not long ago about a poll that concluded most public workers don’t understand how their pensions are paid for. A relative of mine who worked in government for years has expressed a total ignorance of where the money comes from. Many in the private sector don’t even know about the pensions, at all – much less that the taxpayers are bearing a bigger share of the burden every year. That cost not only comes in tax increases but they will continue to divert money from infrastructure.

    I might be willing to discuss a revenue measure that pays to get us out of CalPERS. There’s another conversation that needs to be had – how much would it cost the city to get out of CalPERS?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: