Bill Raden is a freelance Los Angeles writer.
One clear winner to emerge from Tuesday’s statewide election was California education. Proposition 55, the wealth-tax initiative, swept to victory with a 62 percent approval margin. Its passage will extend until 2030 Proposition 30’s emergency stabilization funding passed by voters in 2012.READ MORE
Yesterday the subscriber-only political almanac California Target Book reported that spending by all independent expenditure committees (IECs) on legislative races in the general election had topped $41 million. That brought the year’s total of outside money for state Assembly and Senate seats, including primary races, to $70 million.READ MORE
“This could be the shot heard round the world!” Vermont Senator Bernie Sanders told a Los Angeles rally held Monday in favor of Proposition 61. About 650 office workers, health-care activists and California nurses gathered that morning in Pershing Square to support the drug pricing initiative.READ MORE
Call it the tale of two pension crises. In June, the Los Angeles Times’ business pages looked at the looming retirement savings disaster caused by the nearly 40-year transition from employer-sponsored defined-benefit pensions to individual 401(k) plans — a sea change in retirement insecurity, it noted, that “has been a failure for all but the wealthiest Americans.”READ MORE