Back in September, I wrote a letter to the Franchise Tax Board’s Chief Counsel requesting a legal opinion on the potential tax consequences for a California resident who completes a short sale under existing California law.

I am pleased to announce that the Franchise Tax Board will follow the lead of the Internal Revenue Service and not impose a tax penalty on Californians who have sold their home via a short sale. In her response, FTB Chief Counsel Jozel Brunett stated “Since California… Read More

The voters of the 45th Congressional District have been able to observe my leadership style for more than eighteen years. I directly represented the District for some twelve years, and indirectly for the last seven years. Although it is not my customary style to use the pronoun “I” repeatedly, this is an opportunity to remind the voters of just a few of my accomplishments while serving the County in my years as a County elected official.

*I did not accept public employee union contributions for my Supervisorial campaigns, long before it was popular to demand that conservative candidates not accept such contributions. I knew it was a major conflict of interest.

*I have been addressing public employee defined benefit pension reform long before it manifested itself into the massive debt issue that it is at every level of government. I knew it would become a major fiscal concern and tried to warn elected officials about the negative repercussions of adopting enhanced defined benefit formulas.

*I warned the County of Orange that Treasurer-Tax Collector Robert Citron’s investment strategy would implode if interest rates rose. Rates did rise and the… Read More

[Editor’s Note: We are pleased to offer this original commentary from Doug Lasken. As with all submissions, this piece represents Lasken’s views and not the website.]

Almost like a Hanukkah or early Christmas present, Politico.com last week posted, “CNN poll: Good news for Republicans in 2014 midterms”, which relates that, per the most recent CNN/ORC poll, “Republicans are gaining ground heading into the 2014 midterms.” The poll, conducted last week and released Tuesday, 12/26 shows “…a dramatic turnaround in the party’s standing among voters.”

The article elaborates: “Democrats a month ago held a 50%-42% advantage among registered voters in a generic ballot, which asked respondents to choose between a Democrat or Republican in their congressional district without identifying the candidates…But the Democratic lead has disappeared. The new poll indicates the GOP now holds a… Read More

Anti-Walmart protestsstruck across Californiaand the rest of America on Black Friday. The protesters demanded that the giant retailer pay its worker higher wages and benefits.

As part of the protests, Robert Reich is pushing apetitionon Facebook. The former… Read More

Pop quiz. Which of the following statements is true? A. California High speed rail (HSR) will allow riders to travel between Los Angeles and San Francisco in about two and a half hours for $50. B. The total cost of HSR will be about $40 billion. C. About half the cost of HSR will be picked up by the private sector and the federal government. D. If you like your plan you can keep it.

If you answered none of the above, you are correct and probably good at spotting misinformation put out by the political class to manipulate public opinion.

The first 3 statements come from arguments by those who supported Proposition 1A, or, as it was called, the Safe, Reliable High-Speed Passenger Train Bond Act for the 21st Century, which appeared on the ballot in 2008. Using rosy estimates of short travel times at low cost, along with several million dollars provided by labor unions to get the message out, promoters of Proposition 1A convinced voters to approve a $10 billion bond. It also helped that the glowingly positive ballot title and summary, which are supposed to be objective and are usually written by the attorney general, were prepared by members of the Legislature who… Read More

November 27, 2013 By John Seiler, CalWatchdog

Since June, Katy Grimeshas been coveringthe struggle between Gerawan Farms and its workers against the United Farm Workers union and Sacramento politicians.

Almost two months ago, she profiled Silvia Lopez, the farm worker who was fighting UFW representation being force on Gerawan’s workers without their consent. Grimesspent half a day with Lopez and the workers when they protested at the ALRB offices and at the Capitol. “I never once saw another reporter or media person,” Grimes said.

At first, the Brown administration and the California Agricultural Relations Board resisted the workers’ pleas to allow a vote, as required by the 1975 Agricultural Labor Relations Act, as Grimes reportedin another article.

The articles gained widespread readership in Sacramento and among the state’s farming community. The outcry led to the ALRB granting a… Read More

For the third year in a row, California has been named the worst-run state in America, by 24/7 Wall Street. Is it any wonder? With at least10 Californiacitieson the verge of municipal bankruptcy, a $24 billion budget shortfall in 2012, including a mid-year shortfall of $930 million and $8.2 billion carried over from the year before, California is a mess.

“California carries an A credit rating from Standard & Poor’s, and an A1 from Moody’s — both worse than any other state except for Illinois. Explaining its rating, Moody’s pointed to the state’s history of one-time solutions to resolve its budgetary gaps,” 24/7 Wall Street reported in… Read More

One of the biggest unreported, blockbuster stories in modern America is the alliance between public sector unions and the speculative banking industry. It is a story saturated in greed, drowning in delusion, smothered and marginalized by an avalanche of propaganda – paid for by taxpayers who fund both the public sector unions and the public employee pension funds.

The problem with public sector defined benefit pensions can be boiled down to two cold factors: They are too generous, and they rely on rate-of-return assumptions that are too optimistic. The first is the result of greed, the second of delusion. To indulge these vices requires corruption, and it is a rot that joins public sector unions with the most questionable elements of that Wall Street machine they so readily demonize.

If you honestly review the numbers, the greed is obvious. The average pension for a public servant who has worked 30 years or more in public service is more thanfour timeswhat the average social security benefit is for someone who has worked 40 years or more in the private sector. To cite… Read More