Proposition 81 -- Recommend voting "no" (though I'm not totally happy about that)
It's election time again. Along with voting in various primary elections, the upcoming June 6th election gives you the chance to vote on two state propositions, and likely one or more local laws as well.
The first of the two statewide measures is Proposition 81, which would issue up to $600 million in bonds for the express purpose of building and renovating public library facilities statewide. This follows an earlier bond measure that left the state's needs unsatisfied.
Honestly, the return on investment for libraries is pretty good -- estimates I hit in my research ranged from a two- to five-fold return on investment. However, this is not measured in terms of money going back into state funds, and I'm concerned about adding more debt on top of our current debt right now. I understand that bond measures are a way to attempt to work around inability to alter policy in the legislature, and they may seem more palatable to voters who are inappropriately tax averse, but this line from the rebuttal to the argument against does not convince me:
"Under Prop. 81, the annual interest and principal payment will eb less than $2 per California resident..."
I'd prefer to pay that $2 in up-front taxes and have a state-owned principal that could be invested, gain wealth, and be used to fund libraries.
Other than the fact that it is a bond measure, the rest of the proposition is very well written to help build and support libraries statewide.