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(Fox Business)   If you're looking for a list of California municipalities that will be declaring bankruptcy in exactly 20 years, here you go   ( ) divider line 1
    More: Fail, franchise taxes, Franchise Tax Board, Stifel Nicolaus, Poway, municipalities, municipal bonds, fiscal years, school districts  
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3353 clicks; posted to Business » on 08 Aug 2012 at 4:43 PM (3 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2012-08-08 07:27:32 PM  
1 vote:

BMFPitt: dj_bigbird: Shostie: Guess Prop. 13 wasn't such a great idea, huh, California?

Thank god for it, actually. The morans in Sacramento would just keep jacking up tax rates and spending whatever they can.

California has raised taxes and spent more than just about any other state since Prop 13. So clearly their cunning plan was not thought all the way through. It's basically just rent control for property taxes - new entrants pay absurd rates to make up for the subsidied properties.

tomWright: considering how bad inflation is likely to get, this may not be a bad deal. In 40 years that billion may be worth less than a 10 year old dodge neon is now

If that happens they'll go bankrupt, anyway. That's like buying apocalypse insurance.

jjorsett: There's nothing spendaholics hate more than a tax that's lower than it once was. Every other tax can go up to the sky, but if even one slips the net, they obsess over it, like a long-lost inamorata, hoping with all their being to entice it back.

You think Prop 13 prevented taxes from going up? Do you buy $.01 items with $99 shipping and think you're getting a great deal?

Flint Ironstag: I'd have to agree. $100m 40 years ago (1972) would be worth $500m, half a billion, today. So borrowing $100m for 40 years with no payments during those 40 years and having to pay back only double the amount isn't terrible. Lots of people with mortgages will be paying back far more than that over a shorter time.

That is not what is happening. They're paying very high interest rates and deferring payments for 20 years. If inflation is massive enough to make that make sense, then they'll go broke, anyway.

quickdraw: 25 years ago California had the best public education system in the world. Prop 13 cut funding for public schools drastically over time so the effects weren't felt immediately but this is the inevitable result.

[ image 620x452]

Yeah, look at that huge drop in the blue line after 1978.

tarkin1: The scho ...

1 graph doesn't explain it. Enron alone cost the state billions, destabilizing the budget further.

regarding schooling. . .

CA is the future for the rest of the states. lets start with the bad teachers today who 'can't be fire'

CA decided many years ago that small class room sizes was a good thing. good idea.
CA didn't give a fuzzyratbutt about who they hired. bad idea.

they have since made becoming a teacher very interesting, but at least its better than anyone with a BA. No training in teaching, where as today you essentially get a graduate degree and then STILL have to continue formal education for another two years IF you do find a job. LOTS of training...


Prop 13 bad, but leaving prop tx as is would have been worse. high end neighborhoods had great schools due to high revenue, not so much for poorer schools.

right now the schools are more than 1 year behind actual payments from the state, and further the fed. bills due in april are being paid the following june.

pay is not nessesaraly the problem, benifits more so. the complain about unions donating to Ds is silly, unions have affiliated themselves with dems/libs in order to get overall funding for the school districts, not just their personal coffers. as always more than enough unscrupulous individuals in the heirarchy system of the unions is also doing plenty of damage to both schools and government.


how does a teacher get tenure? being a good teacher for 4-7 years (or longer) at one school. how often are teachers observed by administration, other teachers, community members, local or state officials? to possibly see if a person should become essentially part of the community? Not enough.


too many memes to go through... but essentially linking payment and results is not as good as it sounds. teaching to the test, tens of billions of dollars and only 4 companies? that doesn't sound like a cartel to you?

why spend so much money on testing supplies/prep/ANALYSIS when you could get better results by providing free breakfast? You know, like they do only for test week?


Lots of court cases lay out that the public school system must teach each child, regardless of condition to a certain financial/libel/saftey point. Some try to point out that the staff to studnt ratio has gone up or remained steady, but staff includes the huge number of resource aids. the public school must meet these demands. Same with english language learners. Its up to you to decide if the state really is responsible for meeting theses needs, but these kids are getting an education.

a better point would be that the school's funding is also linked to ADA, average daily attendance. schools need to prove that they need all the resources they are asking for, and use attendence and registration to plot budgets. this also puts the legal irresponsibility to get 'delinquents' to class as well.

here is a sad example of the school system in california, csb time

taught 7/8th grade history for a year. had an 8th grader who came to class 33 of the 90 day semester. the school lost funding from her not being there, lost funding trying to get her there, and lost funding when she took her various tests.

she had been failed throughout her school carrier, guardians as well as teachers. i tried to get her to red a graph off the board. to read the number 114,000 miles of track. she couldn't say one hundred and fourteen thousand.

rare case? my class size went from 30-45 due to attendance. a handful got perfect attendance. hard to learn with no book to take home.

went to admin with my fail list. lots.

admin says we do not have the resources to 'retain' students. was told to give C-. i inquired further (ie demanded) to at least fail the girl with 30% attendance and 14% grade. C-.

point being, do we bother trying to save the system anymore or just burn it down and leave everyone on their own?
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