California voters appear poised to starts another tax revolt on May 19 by rejecting five ballot propositions to raise taxes and borrowing to bail the state out of a $40 Billion plus budget deficit through the next fiscal year. Thirty years ago California passed proposition 13 to limit property taxes. The revolt spread to Massachusetts and other states and restrained public construction spending for many years. Various polls report that proposition 1A to extend temporary tax increases for two years ($16B) and 1C to borrow $5B against future lottery revenues are trailing by 10-25 points.

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