Prop. 63 earmarks $750 million-plus annual tax expenditure for a narrow special-interest group, namely the mental healthcare industry in California. To pay for this, it assaults an already-burdened category of California taxpayers: those who earn more than $1 million per year. This taxing scheme is a sham which will likely raise no net revenue, but instead will drive enough high-earners out of state to do damage to California's jobs and economic development.
Furthermore, the earmarked funds are beyond the reach and oversight of the Legislature or any other independent authority. So when actual tax-the-rich revenues fall short of targets, the shortfall will be scavenged from general revenues, with constitutionally mandated priority!
The "need" for the program has not been demonstrated beyond the claims of those who will directly benefit from this new tax.
Proposition 63 is an abuse of California's initiative process. It is a blatant example of how a tight- knit special-interest group is willing to line its own pockets at the expense of California taxpayers.
Please vote "no" on Prop. 63. Find related information at -
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2004/10/12/EDG1B97B591.DTL