California Proposition 3 Children’s Hospital Bond Act

Without judging the merits of Proposition 3, I have to wonder about the credibility of its supporters when they state that “PROPOSITION 3 DOES NOT RAISE TAXES.” If the State of California sells $980 million in general obligation bonds for capital improvement projects at children’s hospitals, the money to pay back the bonds must come from somewhere. Sure, the proposition isn’t technically a sales tax, income tax or property tax, but someone is on the hook for the money, and I think it is all of us.

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