Quote:
Originally Posted by jyl
Prop 13 did huge damage to California's finances, by reducing a stable source of revenue (property taxes) and forcing the state to rely more on volatile sources (as explained above). This makes the state more vulnerable in recessions.
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Shoulda been in green, right? Since when do you think the state would have lived w/in its means w/ regard to what it takes in? Give them a buck, they'll spend 1.50. It's one of the only laws out there that rewards frugality.