WEBVTT - Jon Fleischman's Voter Guide 0:00:01.920 --> 0:00:06.380 Something's not right here. Crime is up all over the state. 0:00:06.440 --> 0:00:09.050 The homelessness in the city is out of control. 0:00:09.070 --> 0:00:10.510 The economy is sick. 0:00:10.530 --> 0:00:11.690 Taxes are high. 0:00:11.750 --> 0:00:13.750 Housing is expensive and businesses are leaving. 0:00:13.770 --> 0:00:14.230 Leaving. 0:00:14.410 --> 0:00:16.110 California needs fixing. 0:00:17.690 --> 0:00:20.450 And John Phillips is just the man to lead the charge. 0:00:20.970 --> 0:00:25.120 It's the Fix California Hour with John Phillips and Randy Wang. 0:00:26.220 --> 0:00:29.600 And we continue at 105 in the afternoon on the 0:00:29.640 --> 0:00:30.520 John Phillips Show. 0:00:31.050 --> 0:00:32.990 Mr. Randy Wags in Culver City. 0:00:33.290 --> 0:00:36.850 Johnny, we're broadcasting live on the radio, 790K ABC in 0:00:36.900 --> 0:00:40.480 Southern California, 810K SFO in the Bay Area, and live 0:00:40.600 --> 0:00:45.099 on video with a chat room every single day at johnnydontlike.com. 0:00:45.140 --> 0:00:49.589 That's Johnny with a Y. We just hit over 10,000 subscribers. 0:00:49.710 --> 0:00:52.470 If you've never watched the channel before, it's time to 0:00:52.510 --> 0:00:54.870 see what we're doing here on video every single day 0:00:55.330 --> 0:00:57.210 at johnnydontlike.com. 0:00:57.910 --> 0:01:00.480 Coming up after the news at 2, if you are 0:01:00.540 --> 0:01:03.460 a candidate for office whose name is on the ballot, 0:01:03.540 --> 0:01:06.840 if you know someone who is a candidate for office, 0:01:07.380 --> 0:01:09.580 let them know that we're going to open up the 0:01:09.700 --> 0:01:14.150 phone lines the entire 2 o'clock hour and allow candidates 0:01:14.190 --> 0:01:16.230 to make their final pitch to voters. 0:01:17.010 --> 0:01:19.070 It's not just individuals. 0:01:18.490 --> 0:01:25.250 Running for governor or treasurer or state assembly, congress, whatever. 0:01:25.770 --> 0:01:29.210 If you're an advocate for a ballot initiative, we'll talk 0:01:29.250 --> 0:01:31.690 to you as well. There are a lot of different 0:01:31.730 --> 0:01:34.470 things that are going to be decided in tomorrow's election. 0:01:34.910 --> 0:01:38.060 So we figure, why not allow the advocates and the 0:01:38.110 --> 0:01:41.740 candidates to make the case to voters themselves? So we're 0:01:41.760 --> 0:01:45.399 going to do that, the 2 o'clock hour today, for 0:01:45.440 --> 0:01:51.770 the full 60 minutes. But first, because there are so 0:01:51.810 --> 0:01:55.090 many propositions on the ballot, we thought it would be 0:01:55.140 --> 0:01:59.700 a good idea to revisit the accountability podcast that we 0:01:59.720 --> 0:02:03.640 taped with John Fleischman, where we went over all of 0:02:03.680 --> 0:02:07.940 the initiatives that are on your ballot. Randy, we posted 0:02:07.980 --> 0:02:13.320 this on our page at johnnydontlike.com some weeks ago, and 0:02:13.360 --> 0:02:14.940 I think it's at something like 136,000 or 137,000 views already. 0:02:18.419 --> 0:02:21.080 It is by far the most popular thing we have 0:02:21.180 --> 0:02:22.440 done on the channel. 0:02:22.520 --> 0:02:24.730 So thank you for that. It has gone far. It 0:02:24.760 --> 0:02:25.630 has gone wide. 0:02:26.050 --> 0:02:34.050 This podcast currently has 137,000 views and it is full 0:02:34.090 --> 0:02:37.430 of great information as to what John Fleischman and John 0:02:37.470 --> 0:02:42.010 Phillips think about every single statewide ballot initiative. So without 0:02:42.090 --> 0:02:45.459 further ado, in case anyone out there has not voted yet, 0:02:45.919 --> 0:02:50.600 here's what you need to know about the statewide ballot propositions. 0:02:52.980 --> 0:02:55.020 All right, let's go ahead and dive right in, shall we? 0:02:55.919 --> 0:03:03.970 Proposition 1 would borrow $ 11. 25 billion for housing projects here 0:03:04.010 --> 0:03:04.710 in California. 0:03:04.750 --> 0:03:05.630 You're a no on that. 0:03:06.610 --> 0:03:08.169 I am a no, and we're going to do this 0:03:08.470 --> 0:03:10.870 pretty quick. So there's two reasons why you would want 0:03:10.889 --> 0:03:12.900 to vote no on this. The first of which is that, 0:03:12.940 --> 0:03:15.320 of course, if you want to solve the housing crisis 0:03:15.380 --> 0:03:18.440 in California, you don't do it by borrowing more money 0:03:18.860 --> 0:03:21.120 and handing it out to some people. That actually, when 0:03:21.160 --> 0:03:23.020 you do that without more housing, believe it or not, 0:03:23.040 --> 0:03:26.000 it actually drives up the price of housing for everyone 0:03:26.080 --> 0:03:28.100 else that isn't lucky enough to get some of this 0:03:28.180 --> 0:03:31.260 government-funded money. And then, of course, the other thing that's 0:03:31.300 --> 0:03:34.680 important to remember is that this is a, we call 0:03:34.700 --> 0:03:38.050 this a Christmas tree measure. That's where every special interest 0:03:38.070 --> 0:03:41.230 group hangs an ornament on the tree. Less than 10% 0:03:41.230 --> 0:03:43.830 of the money in this bond goes to veterans. But 0:03:43.870 --> 0:03:45.570 yet they put it in there and put it right 0:03:45.610 --> 0:03:47.420 at the front. And then when you go through it, 0:03:47.650 --> 0:03:49.780 every special interest that you could think of is getting 0:03:49.860 --> 0:03:53.300 their piece of money for their preferred group to get 0:03:53.400 --> 0:03:56.320 subsidized money for housing. So this is a big no. 0:03:57.180 --> 0:04:01.570 If we were having this conversation in the 1990s or 1980s, 0:04:02.250 --> 0:04:04.590 I would be a mixed bag on bonds. It would 0:04:04.650 --> 0:04:08.670 just matter as to what the money was being spent on, 0:04:08.730 --> 0:04:10.730 whether I thought there was enough of a crisis. 0:04:11.430 --> 0:04:12.380 And if. 0:04:13.840 --> 0:04:16.340 I like the subject that the money was going to 0:04:16.400 --> 0:04:18.130 or thought that we needed to spend money on it, 0:04:18.240 --> 0:04:21.419 I would be a yes. But given how California spends 0:04:21.460 --> 0:04:23.729 its money, I'm a no across the board on bonds 0:04:23.760 --> 0:04:27.150 right now until there's some sort of provable fiscal accountability. 0:04:27.410 --> 0:04:31.030 And let's remember, when you take out, say, $ 11. 25 billion 0:04:31.390 --> 0:04:33.909 in bonds, especially with interest rates the way they are, 0:04:34.430 --> 0:04:37.010 You will spend more than twice that paying off the bonds, 0:04:37.150 --> 0:04:38.830 and all that money comes right out of the state 0:04:38.890 --> 0:04:42.030 general fund. And I should also mention, this is one 0:04:42.050 --> 0:04:43.850 of those measures that was put on the ballot by 0:04:43.890 --> 0:04:48.409 the legislature itself. It was not signatures, so two-thirds of 0:04:48.430 --> 0:04:50.589 the legislators had to put this on the ballot. I 0:04:50.610 --> 0:04:52.390 got news for you. There's nothing that was placed on 0:04:52.410 --> 0:04:54.430 the ballot by the legislature that you want to vote for. 0:04:55.830 --> 0:05:00.180 So no on Prop 1. Proposition 2 guts the state 0:05:00.200 --> 0:05:02.640 spending limit and cancels tax rebates. 0:05:02.680 --> 0:05:03.400 You're a no on this. 0:05:04.230 --> 0:05:07.210 I am absolutely a no. This was really written because, again, 0:05:07.610 --> 0:05:11.250 they put the rainy day fund expansion. That's what's on 0:05:11.430 --> 0:05:14.680 the ballot. That's the lipstick that they're putting on the pig. 0:05:15.120 --> 0:05:17.620 Right now, California's got what's called the GAN limit. And 0:05:17.660 --> 0:05:19.960 it says that if the state should bring in a 0:05:20.020 --> 0:05:22.460 certain amount of revenue, that that money has to go 0:05:22.560 --> 0:05:24.640 out to the people or go to pay down debt 0:05:24.660 --> 0:05:27.140 and stuff like that. So what they do is they 0:05:27.200 --> 0:05:30.140 expand the rainy day fund marginally and then remove all 0:05:30.160 --> 0:05:33.730 of the other you know, spending limitations. Again, this is 0:05:33.810 --> 0:05:38.159 put on the ballot by the legislature. And if you 0:05:38.300 --> 0:05:41.080 look no further than the Howard Jarvis Taxpayers Association, when 0:05:41.120 --> 0:05:43.760 they tell you that even though this thing says rainy 0:05:43.800 --> 0:05:46.300 day fund, this is a bad idea and you shouldn't 0:05:46.339 --> 0:05:48.140 vote for it, don't vote for it. 0:05:49.360 --> 0:05:49.700 All right. 0:05:49.860 --> 0:05:53.560 So that's no on Prop 2. On Proposition 3, you're 0:05:53.600 --> 0:05:55.880 a no on that one, which would be an income 0:05:55.930 --> 0:05:56.640 tax increase. 0:05:58.120 --> 0:06:00.270 It is. And remember, somebody said it. You would probably 0:06:00.310 --> 0:06:03.229 know who as the historian of the group. But somebody 0:06:03.310 --> 0:06:06.870 once said there's nothing as temporary, as permanent as a 0:06:06.930 --> 0:06:11.630 temporary tax. And that would be the case here because many, 0:06:11.670 --> 0:06:17.110 many years ago in the early 10s, they passed a 0:06:17.450 --> 0:06:20.150 upper bracket income tax that was all sponsored by the 0:06:20.190 --> 0:06:24.740 California Teachers Association, as is this measure. They gathered signatures. 0:06:25.460 --> 0:06:27.320 to put this on the ballot, but I will explain 0:06:27.360 --> 0:06:30.810 how the Democrats and the legislature are complicit in this. 0:06:31.270 --> 0:06:35.950 They gathered signatures because they want this tax increase to 0:06:35.990 --> 0:06:40.070 be permanent. It's the kicker that adds a premium to 0:06:40.110 --> 0:06:42.670 the highest tax rate in the state. And they want 0:06:42.710 --> 0:06:45.480 it because they're under Prop 98, half the money that 0:06:45.520 --> 0:06:47.860 comes in from this automatically has to go straight into 0:06:47.900 --> 0:06:51.180 the public school system. But the reason the Democrats are 0:06:51.220 --> 0:06:55.110 culpable is you'll notice that this is, Proposition three way 0:06:55.170 --> 0:06:57.650 up at front. This is where typically the measures put 0:06:57.690 --> 0:07:00.680 on the ballot by the legislature would be. The Democrats 0:07:00.740 --> 0:07:03.460 passed without a Republican vote and the governor signed a 0:07:03.520 --> 0:07:08.299 bill making an exception to put this citizen initiated, quote unquote, 0:07:08.440 --> 0:07:10.780 ballot measure right up at the top of the ballot. 0:07:11.180 --> 0:07:14.450 So there it is. And I strongly recommend a no 0:07:14.490 --> 0:07:18.110 vote unless you think that California is doing a great 0:07:18.130 --> 0:07:20.570 job with public education. Then maybe, you know, maybe you 0:07:20.770 --> 0:07:23.390 think it's a good idea. They're not. That's the real answer. 0:07:23.870 --> 0:07:26.070 Cecily just needs a little more money, that's all. 0:07:26.710 --> 0:07:28.650 Right, and this is the kind of stuff that drives 0:07:28.690 --> 0:07:32.800 people out of the state. Oh, there you go. You know, again, 0:07:33.100 --> 0:07:35.020 this is why people are leaving California. You want to 0:07:35.040 --> 0:07:39.660 know why U-Hauls rate their outfits in California as the 0:07:39.700 --> 0:07:42.980 number one exporter of trucks. You can get paid by 0:07:43.080 --> 0:07:45.820 U-Haul to drive a truck to California because that's how 0:07:45.860 --> 0:07:47.360 bad they need to move here. So you want to 0:07:47.420 --> 0:07:49.870 move to California? U-Haul will be like, take our truck 0:07:49.900 --> 0:07:52.550 back there because we need to get more trucks back 0:07:52.590 --> 0:07:53.250 into California. 0:07:54.500 --> 0:07:57.000 This is one of these subjects that drives me nuts 0:07:57.160 --> 0:08:02.560 because inevitably what ends up happening is in the super minority, 0:08:03.050 --> 0:08:07.560 Republicans typically select a leader to run the caucus who 0:08:07.640 --> 0:08:10.370 is willing to conspire with the Democrats to pass some 0:08:10.430 --> 0:08:14.230 kind of tax increase or another. Or there are Democrats 0:08:14.270 --> 0:08:17.850 who build themselves as moderate to conservative Democrats because they 0:08:17.890 --> 0:08:21.210 represent a district in the Central Valley or Orange County 0:08:21.290 --> 0:08:24.550 or San Diego County. And they vote for something like this. 0:08:25.350 --> 0:08:29.880 And I go, no self-respecting person can regard themselves as 0:08:29.920 --> 0:08:33.480 a moderate to conservative Democrat or a Republican of any 0:08:33.540 --> 0:08:37.260 kind if you believe we are undertaxed in any way, shape, 0:08:37.300 --> 0:08:40.760 or form in the state of California today. If that 0:08:40.800 --> 0:08:43.720 is a belief that you have, my belief system and 0:08:43.740 --> 0:08:45.660 your belief system are not the same. 0:08:46.340 --> 0:08:48.219 And I just can't go along with that. 0:08:49.140 --> 0:08:52.590 So we tell everyone vote no on Prop 3. Believe 0:08:52.630 --> 0:08:55.110 it or not, basically, we're set up right now that 0:08:55.150 --> 0:08:58.449 in 2030, we get automatic tax relief in the state 0:08:58.490 --> 0:09:01.930 of California unless this passes. And it would cancel the 0:09:01.950 --> 0:09:05.770 tax relief because the current sales tax premium at that 0:09:05.830 --> 0:09:08.010 top end, income tax, sorry, at the top end is 0:09:08.050 --> 0:09:12.189 set to expire in 2030. So all we got to 0:09:12.210 --> 0:09:13.809 do is do nothing here, folks, and we get some 0:09:13.830 --> 0:09:14.270 tax relief. 0:09:15.640 --> 0:09:17.980 One thing that I like to mention to people that 0:09:18.020 --> 0:09:21.920 I think is something that is frequently overlooked is Silicon 0:09:21.960 --> 0:09:25.310 Valley allows the state of California to exist. They pay 0:09:25.350 --> 0:09:29.390 a disproportionate portion of our bills as a state. If 0:09:29.429 --> 0:09:33.429 that industry, high tech and AI, were to go away, 0:09:34.130 --> 0:09:36.610 our state would be in a world of hurt. And 0:09:36.650 --> 0:09:40.410 it seems like there's this assumption that Silicon Valley will 0:09:40.550 --> 0:09:44.880 always be in California and it will never leave the state. Well, 0:09:44.960 --> 0:09:47.700 let me tell you, high tech is not something like 0:09:47.820 --> 0:09:51.750 what the coal industry is to West Virginia or the 0:09:51.790 --> 0:09:54.830 steel industry is to Pittsburgh. And they have to be 0:09:54.870 --> 0:09:58.350 there in perpetuity because of natural resources. They can pick 0:09:58.450 --> 0:09:59.969 up and move anytime they want. 0:10:00.059 --> 0:10:02.580 Them to. So stop poking the bear. 0:10:02.600 --> 0:10:06.479 I just, yesterday I was talking to a prominent California Vintner. 0:10:06.520 --> 0:10:08.620 I'll leave his name off the show, but he was lamenting. 0:10:08.640 --> 0:10:10.520 He's like all these AI people, they could just leave 0:10:10.870 --> 0:10:12.870 people like us that have crops in the ground. We're 0:10:12.890 --> 0:10:16.490 stuck here, but everyone else they'll just go. What do 0:10:16.510 --> 0:10:18.670 you think happened when Elon Musk moved to Texas? You 0:10:18.710 --> 0:10:21.190 don't see SpaceX in California. You don't see the new 0:10:21.250 --> 0:10:25.370 Tesla plants opening in California. Eventually, you drive out. We're 0:10:25.390 --> 0:10:28.410 kind of foreshadowing the billionaire tax issue, but you drive 0:10:28.429 --> 0:10:30.610 these wealthy people out of the state. They're taking their 0:10:30.650 --> 0:10:32.510 companies with them. It may take a year. It may 0:10:32.550 --> 0:10:34.989 take five years, but they're going and they're taking the 0:10:35.030 --> 0:10:35.550 jobs with them. 0:10:36.730 --> 0:10:38.410 So that's a no on Prop 3. 0:10:38.410 --> 0:10:41.840 Proposition 4 would give tax dollars to political campaigns. 0:10:41.860 --> 0:10:42.620 You're a no on that. 0:10:43.460 --> 0:10:46.429 Yeah, currently there's a prohibition in the state constitution that 0:10:46.470 --> 0:10:49.930 says that public money cannot be, you can't do public financing. 0:10:49.950 --> 0:10:52.490 There's an exception. If you're a charter city, you can 0:10:52.510 --> 0:10:54.130 do it. So like Los Angeles does it, and we 0:10:54.170 --> 0:10:57.170 can get into how gross that is. But the idea 0:10:57.220 --> 0:11:01.120 here is twofold. One, you shouldn't, this is not a 0:11:01.179 --> 0:11:04.339 good use of taxpayer money in general, but in general, 0:11:04.980 --> 0:11:07.400 you would not want your tax scholars going to support 0:11:07.460 --> 0:11:11.859 the speech of people you disagree with. For example, If 0:11:11.900 --> 0:11:15.809 you were a liberal Democrat, John Phillips, believe it or not, 0:11:15.890 --> 0:11:19.949 could run for office and spew his venom, and you'd 0:11:19.970 --> 0:11:21.830 be forced to pay for it. But maybe the more 0:11:21.870 --> 0:11:25.429 extreme example would be when David Duke ran for office 0:11:25.470 --> 0:11:28.510 in Louisiana, the famous former Grand Dragon of the Ku 0:11:28.550 --> 0:11:31.459 Klux Klan. If he was in California running, he would 0:11:31.559 --> 0:11:34.360 literally be able to say, I'm running on white supremacy, 0:11:34.559 --> 0:11:36.459 and the state of California would have to write a 0:11:36.500 --> 0:11:39.800 check because once you agree that a candidate should get 0:11:39.880 --> 0:11:43.030 public financing... Their First Amendment rights keep the state from 0:11:43.070 --> 0:11:46.630 discriminating based on anything they are saying. So watch a 0:11:46.710 --> 0:11:49.429 bunch of whack jobs run on the we want to 0:11:49.610 --> 0:11:52.650 blow up Israel ticket in California just to get all 0:11:52.670 --> 0:11:55.090 this money and start spending it on their hate. This 0:11:55.150 --> 0:11:55.770 is a hard no. 0:11:56.309 --> 0:11:58.150 I'm one step ahead of you on that, John. I 0:11:58.200 --> 0:12:00.740 pay for campaigns for people who hate me all the time. 0:12:00.800 --> 0:12:01.859 I'm a member of a union. 0:12:03.000 --> 0:12:06.020 Oh, well, there you go. We'll see if we, Randy 0:12:06.040 --> 0:12:07.080 and I are going to see if we can get 0:12:07.120 --> 0:12:10.350 you a therapist. Isn't there some sort of paycheck protection? 0:12:10.370 --> 0:12:11.850 I guess that just gets you out of their pack. 0:12:12.290 --> 0:12:14.730 Well, I think there's one thing to add here, too, 0:12:14.950 --> 0:12:18.350 and that is there is a cadre of people who 0:12:18.530 --> 0:12:22.660 are gadflies who run for office every single cycle because 0:12:22.720 --> 0:12:24.740 it puts their name on the ballot. It puts their 0:12:24.780 --> 0:12:28.920 name in the paper. It gets them speaking invitations to 0:12:28.960 --> 0:12:29.880 various groups. 0:12:30.059 --> 0:12:32.440 Look for this on steroids when you get handed money. 0:12:32.460 --> 0:12:36.170 Yeah, it's going to be a money-making operation. 0:12:36.580 --> 0:12:39.500 They're going to be able to make a salary running 0:12:39.540 --> 0:12:41.960 for office perpetually with zero viability. 0:12:42.380 --> 0:12:45.880 It's going to be like that guy, Omar Navarro, right? 0:12:47.000 --> 0:12:49.040 Was he running? Was it waters? He kept running against 0:12:49.059 --> 0:12:52.380 who did he keep running against? But that'll be what happens. 0:12:52.400 --> 0:12:54.040 And then not only will they get their money, but 0:12:54.059 --> 0:12:56.320 they'll hire their friends who will kick money back to them. 0:12:56.660 --> 0:12:59.740 It's it's, it's all bad vote. No bad idea. 0:13:00.400 --> 0:13:03.239 Well, and in Los Angeles where this is in practice, uh, 0:13:03.580 --> 0:13:05.600 People may not have even been aware that like the 0:13:05.660 --> 0:13:08.600 incumbents get this money too. So Karen Bass is putting 0:13:08.640 --> 0:13:10.860 out all these videos. Hey, send me a little money 0:13:10.880 --> 0:13:12.950 because the city of LA is going to match that 0:13:13.110 --> 0:13:16.589 six to one. So even though I'm not supporting Karen Bass, 0:13:16.630 --> 0:13:18.730 my tax dollars are, and I don't like that. 0:13:19.470 --> 0:13:21.450 Right. And then of course, what the state, the city 0:13:21.470 --> 0:13:23.390 of Los Angeles did is they set up a special 0:13:23.470 --> 0:13:24.969 fund for it. So then they say, well, none of 0:13:24.990 --> 0:13:27.040 this money can go to anything else. So you may 0:13:27.080 --> 0:13:29.740 as well support this. when they wrote the ballot measure 0:13:29.780 --> 0:13:33.900 that put that in place in the charter in Los Angeles. 0:13:34.420 --> 0:13:37.010 So yeah, Prop 4, strong no. 0:13:37.790 --> 0:13:41.330 Proposition 5 would weaken the right to recall elected officials. 0:13:42.730 --> 0:13:44.730 All right, so this measure is placed on the ballot. 0:13:44.870 --> 0:13:47.290 It was by the legislature, but it was the last 0:13:47.380 --> 0:13:52.660 dying gasp of a recalled state legislator. State Senator Josh 0:13:52.780 --> 0:13:58.620 Newman was the sixth California legislator a legislator or politician 0:13:58.630 --> 0:14:01.920 to be successfully recalled in the history of the state. 0:14:02.420 --> 0:14:05.660 This is very, very simple. They wanna change the process. 0:14:05.840 --> 0:14:09.600 So right now, if somebody qualifies a recall, it goes 0:14:09.660 --> 0:14:11.839 before the voters and there's question A, do you wanna 0:14:11.880 --> 0:14:14.590 recall this person? Like, do you wanna recall Gray Davis, right? 0:14:14.660 --> 0:14:17.650 Do you wanna recall Gavin Newsom? And then people file 0:14:17.770 --> 0:14:21.550 for question two. If the recall passes, who would you 0:14:21.590 --> 0:14:24.250 want to replace them? And so the people are empowered 0:14:24.310 --> 0:14:27.390 on both sides of this equation. This measure is an 0:14:27.470 --> 0:14:31.550 insider-backed play so that if there's a recall and it passes, 0:14:32.030 --> 0:14:34.990 the politicians fill the vacancy instead of the people. It's 0:14:35.110 --> 0:14:38.910 literally a way to make you not want to do 0:14:38.970 --> 0:14:42.810 recalls anymore. What would be your incentive to recall, for example, 0:14:43.030 --> 0:14:47.610 a crazy, corrupt politician who's in the hands of the 0:14:47.690 --> 0:14:50.360 unions if you knew that if you did it, the 0:14:50.440 --> 0:14:53.100 legislature that's in the hands of those same unions would 0:14:53.160 --> 0:14:56.710 simply name a replacement? So it's a bad idea. I 0:14:56.970 --> 0:14:57.870 encourage people to vote no. 0:14:58.790 --> 0:15:01.490 And you look at various politicians who are running for 0:15:01.570 --> 0:15:05.050 office right now. Susan Rubio is a perfect example, a 0:15:05.090 --> 0:15:07.910 state senator in Los Angeles County who Mike Netter is 0:15:07.950 --> 0:15:11.960 running against. There was a federal complaint that was a 0:15:12.040 --> 0:15:17.580 public corruption complaint against various individuals. Her name was redacted, 0:15:17.660 --> 0:15:20.800 but everyone, wink, wink, nod, nod, seems to be of 0:15:20.840 --> 0:15:23.400 the belief that she was the politician that was named. 0:15:24.060 --> 0:15:26.260 Now there's a high likelihood that she's going to win 0:15:26.320 --> 0:15:31.630 reelection because it's a democratic district and she's the democratic candidate. 0:15:32.150 --> 0:15:35.470 If she were to be reelected and then she gets 0:15:35.530 --> 0:15:39.110 indicted by the federal government and the people, the district go, okay, 0:15:39.510 --> 0:15:43.940 it's time to recall her. She would just be replaced 0:15:43.980 --> 0:15:47.680 by someone who's equally owned by the unions. So there 0:15:47.720 --> 0:15:51.040 are a few practical examples that you can see on 0:15:51.060 --> 0:15:54.870 the horizon of where this exact scenario would apply to. 0:15:55.310 --> 0:15:56.610 And all of it is bad news. 0:15:57.270 --> 0:16:00.130 Yeah. It's just ironically that they're trying to use the 0:16:00.210 --> 0:16:03.489 PR the process set up by Hiram Johnson to gut 0:16:03.550 --> 0:16:07.240 the process set up by Hiram Johnson. So we'll see 0:16:07.270 --> 0:16:09.880 what happens. This doesn't seem to be ahead in the polls. 0:16:09.960 --> 0:16:13.440 So maybe, maybe they won't get it done. So that's 0:16:13.480 --> 0:16:14.500 a no on prop five. 0:16:14.580 --> 0:16:14.820 All right. 0:16:14.860 --> 0:16:18.880 Prop 37, that would borrow $ 25 billion for housing projects. 0:16:19.800 --> 0:16:22.790 Okay, this one is interesting and it's terrible at once. 0:16:22.870 --> 0:16:25.030 The most important reason, well, first of all, what it 0:16:25.070 --> 0:16:29.310 does is ostensibly it says these are revenue bonds. That 0:16:29.350 --> 0:16:31.890 means they're not general obligation bonds that are paid for 0:16:31.930 --> 0:16:34.510 out of the state general fund with interest and reserve. 0:16:34.950 --> 0:16:37.170 In theory, what they're saying is we're going to have 0:16:37.170 --> 0:16:41.080 $ 25 billion that is borrowed by loaning people money and 0:16:41.120 --> 0:16:44.420 then they pay it back with when they make their 0:16:44.440 --> 0:16:46.740 mortgage payment, they pay a premium back for the loan 0:16:46.780 --> 0:16:51.190 they got to cover If your down payment is 20%, 0:16:51.190 --> 0:16:55.310 this would cover almost all of it. I'm not a mathematician, 0:16:55.330 --> 0:16:58.850 but 17% of the 20% that you put down would 0:16:58.890 --> 0:17:02.590 be covered by the taxpayer in this. And then where 0:17:02.610 --> 0:17:05.340 the liability of the public is, is if somebody, I 0:17:05.359 --> 0:17:09.060 don't know, defaults on the loan, right? Then the public's 0:17:09.359 --> 0:17:12.380 at the end is stuck for it. But the real 0:17:12.420 --> 0:17:14.679 issue here, again, once again, is that the problem that 0:17:14.720 --> 0:17:17.170 we have in California is, is a housing shortage. This 0:17:17.210 --> 0:17:21.860 does not solve the housing shortage. This just increases the scramble. 0:17:22.460 --> 0:17:24.359 You're bidding for a house and somebody just says, I 0:17:24.400 --> 0:17:25.840 don't want you. I want the guy that's got the 0:17:25.900 --> 0:17:28.659 government backing. And so you're out unless you hit the 0:17:28.700 --> 0:17:31.400 narrow band of people that this applies to. And then, 0:17:31.420 --> 0:17:34.480 of course, who's the big sponsor of this? It's like 0:17:34.520 --> 0:17:37.020 the realtors and another who's who of everyone who makes 0:17:37.119 --> 0:17:41.030 money in the bond lending process. So this is a 0:17:41.070 --> 0:17:42.390 hard no, terrible idea. 0:17:43.040 --> 0:17:44.919 It's something to just keep the state out of. 0:17:44.980 --> 0:17:49.180 I saw an interview recently with Warren Buffett, and he 0:17:49.240 --> 0:17:52.170 said the banks want to loan money. People act like 0:17:52.210 --> 0:17:54.149 the banks don't want to loan money. The banks want 0:17:54.170 --> 0:17:56.910 to loan money because the money does nothing for them 0:17:56.970 --> 0:17:59.109 if they sit on it. It's just they need to 0:17:59.150 --> 0:18:00.540 find people who are good for it. 0:18:01.170 --> 0:18:01.370 Right. 0:18:01.450 --> 0:18:04.129 This is the issue. The whole concept here is they 0:18:04.150 --> 0:18:06.149 want to provide this money for people that couldn't get 0:18:06.210 --> 0:18:10.119 a loan, which by definition means they're all bad risks 0:18:10.200 --> 0:18:13.530 for going belly up on their mortgages. And then the 0:18:13.570 --> 0:18:17.160 taxpayers get hit for the balance. So it's a bad idea. 0:18:18.480 --> 0:18:21.240 All right. Proposition 38, you're also a no on. 0:18:21.280 --> 0:18:24.700 That's public-private partner bonds for immunology research. 0:18:25.460 --> 0:18:27.960 Yeah, this one's another one where you got corruption all 0:18:28.020 --> 0:18:30.090 over it. It sounds like a great cause. And by 0:18:30.109 --> 0:18:34.190 the way, I myself am a cancer survivor and benefited 0:18:34.310 --> 0:18:37.350 from research in the cancer field. But this is no 0:18:37.390 --> 0:18:42.140 way to fund cancer research. One wealthy billionaire said, decided 0:18:42.240 --> 0:18:44.790 to pay for all the signature gathering for a ballot 0:18:44.810 --> 0:18:47.909 measure that he and his attorneys wrote. And literally half 0:18:48.750 --> 0:18:51.189 of all of this, these billions of dollars would go 0:18:51.369 --> 0:18:54.250 straight to his favorite charity because, you know, they do 0:18:54.290 --> 0:18:56.470 that bit where they define it in the law so 0:18:56.530 --> 0:19:01.659 narrowly that only one charity would apply. And again, you know, 0:19:01.680 --> 0:19:03.679 the amount of money that you'd have to pay in 0:19:03.700 --> 0:19:07.460 this case, you know, 500 to $ 600 million annually would 0:19:07.500 --> 0:19:09.580 have to go to pay back this bond. This is 0:19:09.640 --> 0:19:12.410 no way to fund research, but you know, It's ahead 0:19:12.450 --> 0:19:14.330 in the polls right now because everyone thinks it's a 0:19:14.369 --> 0:19:18.119 great idea. Nobody really understands the cumulative effect of the 0:19:18.160 --> 0:19:20.619 borrowing and what happens when you start to, you know, 0:19:20.940 --> 0:19:24.040 this literally takes half a billion dollars, half a million dollars, 0:19:24.540 --> 0:19:26.760 half a billion dollars a year right out of the 0:19:26.800 --> 0:19:29.379 general fund that is now no longer available for anything, 0:19:29.420 --> 0:19:30.240 including tax relief. 0:19:32.220 --> 0:19:35.200 And no one wants to hear this, but if you 0:19:35.280 --> 0:19:39.720 really want to help cancer research move forward, allow the 0:19:39.780 --> 0:19:42.540 data centers to pop up. do what you can do 0:19:42.560 --> 0:19:45.179 to help, because AI is gonna solve a lot of 0:19:45.220 --> 0:19:49.550 those problems. I mean, you read where cancer research is going, 0:19:49.880 --> 0:19:53.980 and AI, I mean, my dad had brain cancer and 0:19:54.119 --> 0:19:58.909 unfortunately he was just a little bit too early because it, 0:19:59.030 --> 0:20:01.929 it started out as a size of a speck of sand, 0:20:01.950 --> 0:20:05.709 the cancer and the tools that they had for radiologists 0:20:05.790 --> 0:20:08.919 to look at couldn't see the cancer when it was 0:20:08.940 --> 0:20:11.960 in its very early stages. But the AI that now 0:20:12.050 --> 0:20:15.150 exists would have allowed them to spot that cancer when 0:20:15.170 --> 0:20:17.750 it was the size of a speck of sand. And 0:20:17.810 --> 0:20:20.389 you take those principles and you apply it across the 0:20:20.430 --> 0:20:24.120 board to various cancers, and the ability to fight cancer 0:20:24.160 --> 0:20:26.900 from the medical community is going to be helped. 0:20:27.060 --> 0:20:31.379 By leaps and bounds, by AI, if we don't strangle them. 0:20:32.230 --> 0:20:34.500 Right, and I would add, by the way, that the 0:20:34.540 --> 0:20:37.080 guy who's funding this measure is capable of giving billions 0:20:37.119 --> 0:20:39.200 of dollars to that charity if he wants to, right? 0:20:39.300 --> 0:20:41.520 But instead, it's the typical deal. Well, I'll just put 0:20:41.540 --> 0:20:44.440 this on the ballot, and we'll get the taxpayers to 0:20:44.580 --> 0:20:48.110 pay my favorite charity. So, hard no. 0:20:48.530 --> 0:20:50.950 All right, so far we're a no on everything from 0:20:50.950 --> 0:20:53.430