Long after President Obama’s re-election was secure, another election day result came in, one that may be of comparable significance in the long run.
By a 54-46 margin, Californian voters approved Proposition 30, which raises about $6 billion a year in additional income and sales taxes to prevent further cuts in education spending.
To appreciate the historic significance of this measure, it’s necessary to go back to 1978 and the passage of Proposition 13, which slashed property taxes, and imposed high barriers to any future increase in taxes.
Proposition 13 heralded the beginning of a global “Tax Revolt”, and the end of a century-long trend towards an increase in the share of national income allocated to public services.
In this country, the campaign was taken up by The Australian and had its echoes in the “Joh for Canberra” campaign a decade later, based on a 25% flat tax. More seriously, the Hawke government
By a 54-46 margin, Californian voters approved Proposition 30, which raises about $6 billion a year in additional income and sales taxes to prevent further cuts in education spending.
To appreciate the historic significance of this measure, it’s necessary to go back to 1978 and the passage of Proposition 13, which slashed property taxes, and imposed high barriers to any future increase in taxes.
Proposition 13 heralded the beginning of a global “Tax Revolt”, and the end of a century-long trend towards an increase in the share of national income allocated to public services.
In this country, the campaign was taken up by The Australian and had its echoes in the “Joh for Canberra” campaign a decade later, based on a 25% flat tax. More seriously, the Hawke government
