Prop 3 on our November ballot is the Margins Tax or the School Initiative, depending on which side you fall.  In very loose terms, it imposed a 2% tax on business profits over $1,000,000, with the proceeds dedicated to education.

The Prop is a well meaning disaster.  Yes, the proceeds may be dedicated to education, but the Nevada Legislature can reduce their general fund contribution to education in light of the guaranteed funding.  No one can argue that education is adequately funded in Nevada, and the lily livered Washoe County Commission failed to approve the tax increases and funding the last Legislature allowed them to impose.

So why am I voting for Prop 3 at this point?  First, it is what we’ve got at this point in time.  And time is of the essence if we want to cure the massive deficits in school maintenance and overcrowding we currently face.  Add the Tesla Burden of 22,000 related jobs and the rug rats from the families that WCSD will now need to finance and support.  Te$la’s pulp donation of $7.5m for the next 5 years, none of which is dedicated to Washoe as of yet, shows they are at least aware our out concerns but are unwilling to meaningfully contribute to a solution.

So I plan to hold my nose and vote for Prop 3.  I don’t think we have any other option on the foreseeable horizon if we actually value education in this state, or more locally, Washoe County.  Convince me otherwise if you can.

Advertisements