California Dreaming–Brown’s tax measure, which has yet to even qualify for the June 2nd ballot is a band-aid for a critical condition

California Dreaming

The latest Public Policy Institute of California poll shows Gov. Brown’s proposed tax initiative – which hasn’t yet qualified for the ballot – currently has 54 percent support among likely voters. Historically in this state, ballot initiatives lose support over time, so it looks like an uphill climb. If the unscientific San Francisco Chronicle readers’ poll accompanying the article is any indication, the opposition is just getting warmed up.

Because CalSTRS has earned only 60 percent of its forecasted investment return since 1999, it needs school districts to boost contributions by more than $100 billion. Worse, CalSTRS waited so long to seek more contributions that its request is now for an extra $4.5 billion a year, almost double the $5 billion a year it already receives in contributions.

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