Editor,
Residents of California pay among the highest taxes within the United States, including all state and local taxes. In addition, many jurisdictions are saddled with pension obligations which continue to grow steadily every year. These pension expenditures drain funds from city, county and statewide budgets. This contributes to frequent increases of taxes by most governmental bodies.
It is reported that the University of California’s eight campuses employed at least 598 people who earned over $500,000 in 2016. At least 43 of those were paid over 1 million dollars. Those employees could be valued at those levels, but the subsequent pension burdens will become astronomical. Cities like San Mateo and San Francisco have similar under-funded pension obligations which will continue to grow.
Legal adjustments are needed to minimize this enormous and growing pension burden in every jurisdiction.
Tom Elliott
San Mateo
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(1) comment
I agree Tom. The good news is we can do something about it. Vote No on all new taxes, deny government more money that is using current tax dollars to pay old obligations, kind of like a Ponzi scheme.
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