Serving Bel Air, Benedict Canyon, Beverly Hills. Brentwood, Laurel Canyon, Los Feliz, Malibu, Pacific Palisades, Melrose, Santa Monica, Sherman Oaks, Studio City, Topanga, Canyon, Westwood & Hollywood Hills.

Name

E-mail

facebook Canyon News twitter Canyon News

Canyon News

Bel Air News

Beverly Hills News

Brentwood News

Hollywood Hills News

Laurel Canyon News

Los Angeles News

Los Feliz News

Malibu News

Melrose News

Pacific Palisades News

Santa Monica News

Sherman Oaks News

Studio City News

Topanga Canyon News

West Hollywood News

Westwood News

Woodland Hills

Celebrity News

State News

National News

World Headlines

Deaf News

Entertainment

Film

Television

Music

On the Industry

Star Gazing

St. John's Confidential File

Theatrical Musings

Life & Style

Event Listings

Tech Talk

Looking Good For Lots Less

Spirit & Creativity

Miller Time

Books

View from the Hill

NY WEST

Chrystal's Recipe Corner

Career and Life Coaching

Gardening With Tony

Life According To Lenson

Real Estate Realities

Food

Sports

Marathon Running

Keeping It Bruin: A Look Into UCLA Athletics

Baseball

Basketball

Football

Hockey

Pets

Vi's Corner

Pet Tips

Point of View

John Armor

Message to America

Critic At Large... Ruta Lee

Labor Week

Ramblings

10 Degrees Cooler

McConnors corner

Edge of the west

The Physics Wizard

Auto

Kyle's Kars

Travel

Susan Michelle's Compass

Advice

Ask Deanna

Dear Lily

Ask Oona

Features

Dancing with Earthquakes

Archives

Sports Schedules

Traveling Beyond the Canyon

Edge of the West

Law Man

Ask Us

Nathan Tabor

The Angry Economist

Truth Probe

As I See It

Columnists

Truth Conquers

The Live Wire

Notes from Exile

Letters to the Editor

Dog Training by Anthony

Canyon Mews

Speak!

Sponsors

America's Most Wanted Dogs

World Recipes

Vegetarian Lifestyle

Humor

News Briefs

Local News

Books

News

Canyon Fodder

Bad Movie Night

Critical Projection

Ed's on the Town

Fitness Quests

Flashback Films

Stories of the Strange

Gourmet Grandma

He Said/She Said

Home Matters with Yvonne

L.A. Etch-a-Sketch

L.A. Ruminations

McConnor's Corner

Mommy Minute

Musically Speaking

My Back Pages

Publisher's Pages

ResourceINK

Scene and Heard in L.A.

Silly...But Wise!

Sunset Diaries

Table Options

The Paws Cause

TV Stuff

Cartoon of the Week



McConnors corner

Nothing Is Free
Posted by Sean McConnor on Aug 10, 2008 - 10:59:08 AM

It sounds so simple. You vote for a bond measure. You don't have to pay taxes and you get a new school or park.  Wrong, nothing is free.

What was it that the late comedian said? "A sucker is born every second?" Or was it the circus man P.T. Barnum? No matter who said what, the politicians are playing us for just that with the countless bond measures that will appear on the November ballot.

The Los Angeles Community College District (LACCD) and the L.A. Unified School District (LAUSD) will have billion dollar measures on the ballot along with some state bond measures, too  Allegedly, these measures will provide monies for much needed or delayed construction projects to help educate our children. Maybe and maybe not, but we will review this later.

Meanwhile, what are these bonds? How do they operate? Well, they are bonds sold by the various municipal governments. In exchange for your buying a bond, which costs in the thousands, the local government will pay you back with a good rate of interest for 30 or 40 years with the interest tax free. They are safe as anything can be. What better deal can you get than this?

Of course, there is a lot of game playing going on with the bond market like everything else. The bond agencies who rate bonds have been downgrading the ratings of municipal or local bonds. As a result, the cities have had to pay for insurance to get better ratings. The taxpayers pay for this because the cities offer higher interest to sell their bonds and pay for insurance.

Many bond buyers don't want to buy local bonds since Orange County had some financial problems in 1994. This is ridiculous because local governments rarely go belly-up and many of their budgets require that they pay for their obligations (bonds, debts, etc) before they can spend a dime on police or fire. The bond rating companies make a killing, the buyers get tax-free income, and the voters get much needed services. Not so fast.

The property tax owners are footed with a few hundred dollars more taxes each year every time a bond measure is passed. The cities and agencies don't care because the construction companies and buyers of the bonds contribute to campaigns of politicians who keep the gravy flowing. Everyone gains in the end except us, the taxpayers.

You won't find me voting yes in November, not when the LAUSD has such a high drop-out rate and lower test scores or when the LACCD has one of its decertified. I am not going to reward incompetence. No, I don't mean the kids. I mean the leaders of our education system.



 

Cliffside Malibu

-------------------------

-------------------------

 

Serving Bel Air, Benedict Canyon, Beverly Hills. Brentwood, Laurel Canyon, Los Feliz, Malibu, Pacific Palisades, Melrose, Santa Monica, Sherman Oaks, Studio City, Topanga, Canyon, Westwood & Hollywood Hills.