CLEAN MONEY….I suppose I shouldn’t be surprised, but the LA Times has recommended a No vote on Proposition 89, the Clean Money initiative on the ballot in California this November. They agree it’s a splendid idea, but:
In the details, however, Proposition 89 runs aground. The funding would come from a tax on corporations and financial institutions….The measure worsens both the insult and the injury by sharply limiting a corporation’s ability to spend money supporting or opposing a ballot measure.
Yeah, Prop 89 really sticks it to corporations. It’s funded by a 0.2 (that’s zero point two) percentage point increase in the corporate income tax, and it prevents corporations from donating more than $10,000 to initiative campaigns unless they set up a PAC to do it.
Can we get real? 0.2% is a tiny increase, and forcing corporations to set up PACs that raise money from wealthy executives and stockholders is a speed bump, not a death sentence. But that’s still too bold for the Times. Your liberal media at work.