Monday, October 23, 2006

Stupid ballot initiatives

The WSJ (subscriber only) has two editorials on economically foolhardy ballot initiatives, one in Ohio and another in California. In Ohio, the initiative would basically open employer records of employee information to unions whilst constitutionally requiring a higher minimum wage. Ohio's unemployment level is 5.7%, compared to the US level of 4.6% (no, liberals, Clinton never came close to that low of an unemployment level). Minimum wage increases also raise unemployment levels (two words: Santa Fe -- the effects of its "living wage" legislation have been horrible for jobs in the NM capital). So much for Ohio's job solution attempts.

In California, the concept is stupider, as the WSJ explains:
The jewel in this liberal crown [of proposed tax hikes] is Proposition 87, which would raise taxes on oil extracted from California by 1.5% to 6%, depending on the price per barrel -- all in the name of reducing energy consumption and dependency on foreign oil. Let us run that by you again: The idea here is to tax California oil in order to get Californians to use less Saudi oil. Brilliant.

In California, such idiocy has a very good chance of passing.

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