It is now too easy for a minority to hold up passage of budget/revenue bills. The wasted time results in enormous costs to the taxpayer as well as bringing chaos to the state economy. Majority rule is normal, fair, and efficient. Requiring 2/3 to agree for budget passage is a burden shared by only a very few other states (Arkansas and Rhode Island), states whose budgets are nowhere near the size and complexity of California's.
Go HERE, to Californians For Democracy, to help get budgeting sanity on the ballot.
We have one of the highest-paid legislatures in the nation. It's time we have them doing more than bicker and stalemate.
Share repurchases do not discourage investment
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Theory tells us that, and the empirics tell us that too: Our study examines
the claim that share repurchases lead to reductions in real investments.
Repu...
6 hours ago
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