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BONDS ARE A TAX!

"...the borrower is a slave to the lender" (Proverbs 22:7).

When you vote “yes” on any bond measure, you are voting to further enslave yourself and the other taxpayers of your city, county or state.

In California, a majority of voters consistently vote YES on BONDS.  Bonds are a TAX.  Bonds lead to debt BONDAGE!   

From 1955 to 1975, California built massive infrastructure improvements without long-term bond and interest debt.  But the sensible "pay-as-you-go” model has been replaced by bonds, which are nothing but a new tax.  

Bonds get paid first from general fund leaving less money to pay for transportation, education, and healthcare.   

What’s worse, bond payback normally takes 30 years.  Interest compounds during that time. Thus, the actual cost to taxpayers is roughly double the face amount of the bond.

Certain special interests (corporations, business sectors, unions, etc.) invest several million dollars in often distorted advertising campaigns in order to pass a bond measure that will generate them a return to them of billions of taxpayer dollars!  And a sizeable majority of California voters fall for it hook, line and sinker almost every time.

Don’t voters care that they, and especially their children and grandchildren, will be paying higher and higher percentages of their income in taxes in the years to come due to these bonds?

But one may ask, "Aren't bonds needed to obtain large amounts of money at one time?"  That simply is not true.  California, for example, receives tax revenue over 100 billion dollars per year. 

There are conceivably emergency or urgent matters for which bonds may be a necessary evil. 

But remember, "Bond" is a spin word for "tax," and bonds have spun California into a web of massive debt bondage.

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