In the case at hand, public unions are raising money to defeat proposition 32, so it is nearly automatic that I would be for it. And I am.
But what is California proposition 32?
Proposition 32
Vote Yes on Proposition 32 if you want to ...
- Prohibit corporations and unions from giving to candidates
- Prohibit the deduction of political money from worker paychecks, making all political contributions truly voluntary
- Prohibit contractors from giving to politicians who approve their contracts
Please consider the following You-Tube video on prop 32.
Unions of course are fighting this tooth-and-nail. In general that is all you need to know.
Opponents claim there are loopholes that allow contributions to super-PACs. If so, it is relatively even-handed although arguably not perfect. Nothing stops unions or corporations or anyone else from voluntarily giving money to PACs.
The biggest gripe of the SEIU and unions is point number two. Point number two is thus the biggest strength of the proposal.
It is long past the time to rein in public unions and I look forward to the time the entire notion of collective bargaining for public unions goes into the ashcan of history where it belongs.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.
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