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Saturday, March 28, 2015

Baker's broken promises: Taxes & TRIM

"I would not work to repeal TRIM."
Gazette 2010 Voters Guide:
Q. What are your thoughts on TRIM? Would you work to repeal or preserve it?
I would not work to repeal TRIM.


  1. By not taking these taxes to voters, Mr. Baker is violating the trust of people who fought too long for the right to determine their destinies. He violates the Charter with impunity. What a sad excuse for honor.

  2. If you read bond ratings from Fitch, S&P and Moody's, the tax limitations of Charter Section 812 (TRIM) and Section 813 (Voter Approval of Taxes) are acknowledged. However, I have been unable to find a bond float where SB848, state legislative authority to raise taxes, is considered or even mentioned. If Mr. Baker had authority since 2012 to bypass these Charter laws and better our bond position, why weren't bond holders/lenders notified, and rating agencies able to consider the revenue security in their rating statements? If the limitations impede our AAA rating as asserted by Mr. Baker, he has had the opportunity since 2012 to let lenders know SB848 existed and pay-off revenue could be raised.

    15% property taxes, telephone, hotel and numerous other taxes without voter approval is projected. 71.21% of voters in 2007 (Question F, CB-012-2007) voted down a small telephone tax increase that a courageous council took to ballot. The precedent exists to take taxes to ballot even though the Attorney General Brian Frosh ignored Question F and the precedent in his Opinion upholding tax increases and bypassing the voters.

    Buy PG Bonds? Think about it. By the way, the growth potential of our county keeps the AAA bond rating; Taking new taxes to ballot would have no affect on ratings..