Skip to comments.CA: Billionaires put their agendas to a vote (Props. 5&10 backers - George Soros & T. Boone Pickens)
Posted on 11/01/2008 1:49:36 PM PDT by NormsRevenge
Reporting from Sacramento -- California's ballot is often crowded with measures known as citizen initiatives. But many of the citizens whose causes will come before voters Tuesday are not everyday Californians.
International financier George Soros wants to change drug laws. Computer technology titan Henry T. Nicholas III -- who has been indicted on federal fraud and drug charges -- is pushing two measures seeking tougher penalties for criminals and expanded rights for victims.
Oilman turned alternative-fuels investor T. Boone Pickens is pushing subsidies for cars that run on substances other than oil. And Peter Sperling, one of the founders of the highly profitable Phoenix University system, is the financial force behind another green- energy pursuit.
Never before has such a large assortment of the extremely wealthy placed their pet projects on the statewide ballot. Five of the dozen statewide measures facing voters in this election have billionaire sponsors.
All of them are among the Forbes 400 richest Americans. Each has spent millions to get his issue on the ballot.
The ability of the wealthy to bankroll ballot measures, paying for petition signatures and advertising campaigns, has been increasingly on display in California. Two years ago, for example, Hollywood producer Steven Bing dumped $48 million into an unsuccessful effort to raise taxes on oil to pay for alternative fuels.
But the size of this year's crop of billionaire initiatives is troubling, according to some.
(Excerpt) Read more at latimes.com ...
There is no patron saint more paramount in politics than the almighty dollar.
That’s two NOs election day from this humble abode.
The ads for the Pickens and Soros propositions claim they will not result in any tax increases. Both propositions are for multi-billion dollar bond issues. So, down the road, the funds to pay off these bonds have to come from someplace other than thin air, like tax increases unless some other programs are cut.
As for the Nicholas prop, Arnold and all four of the prior governors came out against it as it would result in thousands of people convicted of drug offenses not having to go to prison but instead to halfway houses which would be located in our neighborhoods. Henry Nicholas will likely be convicted of major drug offenses himself and be spending a lot of time in jail. The drug charges against him are amazing. He is a very rich man who previously was charged with post dating stock options. A sad commentary on ethics among today’s senior business executives.
Like the Dana Carvey "Church lady," "Isn't THAT special?!!!"
I was going squuushy and almost voted for 6 and 9 .. they can take the high-speed rail and pickens wind power and blow the joint for all I care... I think that is what half the folks voting must be doing anyway, blowing joints before they vote.. ;-)
I'm afraid bastird Arnoild has set entirely too much of a bad example for my beloved CA!!!