A community news source for residents of the HarriOak neighborhood in Oakland, CA.

Sunday, July 20, 2008

More Bad Taxes

The Oakland Tribune has a editorial today on two more ill-advised bond measures by Tim Hunt.

"IGNORING THE REALITY of the economy that is suffering because of the financial industry fallout from the popping of the housing bubble, both the state Legislature and the East Bay Regional Park District are moving ahead with ill-advised bond issues this fall.

East Bay parks, which struggles to operate the land and facilities it already owns, wants voters to approve a $500 million bond issue that essentially will extend an expiring bond. It amounts to $10 per year for $100,000 of assessed value — not a great deal of money — but yet another hit on folks struggling to make ends meet in these days of nearly $5 gallon gasoline.

It's also worth remembering that $500 million used to be considered a healthy total for a statewide measure, not one covering just two counties."

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