Letter to the Editor: Demands on the district budget are endless | letters to the editor
Reasons to vote for Action K: If we pass this tax on to ourselves, we can keep the full 1 percent even if the state (later) decides to do the same nationwide. If we wait for the state to pass this tax, they keep 2/3 and we get 1/3. So we pay it anyway and are only marginally better off. And they will eventually pass it because so many cities and counties have their own sales tax levies (above and above the state) that the state will pass its own tax hike in a late night session.
Why is the district chronically underfunded? Here’s why: From about 1996 to 2011, county employees didn’t contribute to their retirement fund. The union and its lobbyists convinced the board that the pension investments would like to meet the funding needs of future retirees. There were no guarantees to protect taxpayers if that didn’t happen, and it didn’t. The Supervisory Board has not fulfilled its supervisory duty. So the county began issuing general notes and had to continue to do so. The county has had to issue about $300 million over the years and now pays about $25 million a year in debt service on these bonds. And that debt isn’t going away anytime soon.