CAFR tax surplus trillions: Senator Liu, Assemblyperson Portantino: heroes or minions?

This is a case study of state and local representatives’ choice and official responses regarding taxpayers’ surplus trillions revealed by official Comprehensive Annual Financial Reports (CAFRs).

After writing “Does California need a $600 billion investment fund given our austerity?” I wrote letters to the editor for my two local papers (250 word version of this), and created a brief for my California Senator Carol Liu and Assemblymember Anthony Portantino (you’re welcome to the seven points I explain and document in the brief).

I will press these two representatives to act in their official capacities to responsibly cause public disclosure of Californians’ $600 billion tax surplus as refuting “1%” official lies of omission that Californians must have austerity from a $16 billion budget deficit.

And yes, this will be the most courageous act of their careers.

I will advise these good people that we are aware if they assert “emperor has no clothes” obvious facts that expose the 1% as criminal economic frauds for non-disclosure of best-initial-estimate of $8 trillion of total state taxpayer overpayments that they are heroes who can help cause critical mass for thousands of other states’ colleagues to do the same.

We are also aware that 1% “leaders” will threaten them with their jobs, blackmail, and even deaths of their families. We know this is true most poignantly from the King Family civil trial evidence and verdict that the US and state governments were guilty in the assassination of Dr. Martin Luther King, Jr. to prevent his “Occupy DC” in the summer of 1968 until the Vietnam War was ended, and economic resources redirected for optimal public benefits.

California Senator Carol Liu and California Assemblymember Anthony Portantino have a choice of two paths:

  1. Ignore, deny, obfuscate, lie, and be minions of a criminal “1%” so-called “leadership” for malfeasance of trillions in public money while forcing devastating austerity and failing infrastructure on the 99% in California. This path is to be a minion complicit in crimes that reflect globally in policies that annually kill millions, harm billions, and loot trillions of dollars.
  2. Be the leaders they once dreamed of being. Stand for justice that will reflect globally to literally save millions, help billions, and redirect trillions to build a brighter future for 100% of Earth’s inhabitants. This path requires Carol and Anthony to join forces with others to intelligently and rapidly act to expose the 1% “leaders”. Joint press releases, press conferences, and mutual stands can create critical mass for the 99%’s “emperor has no clothes” recognition. The more leaders they can get to join their action, the better their chance for success and the safer it is for their heroism.

Regarding my interactions with Carol and Anthony (and their staff), from my experience of 18 years working with hundreds of members of Congress and two UN Summits, I will demand and publish continuous accountability of their official responses. I found with Gandhi that you will otherwise be ignored as a first response:

First they ignore you. Then they laugh at you. Then they fight you. And then you win.

I will encourage Carol and Anthony’s endgame choice from shining the brightest light I can on their official actions. As I advise them, reposts of my published work result in millions of views, and I will invite community participation through local connections and press (two neighbors have already come to my door in support). I will attempt to polarize Carol and Anthony’s responses to either of the two choices above through the light of publicity. While the 99% can encourage their virtue, where they bet their futures (and ours) is their call. I will admonish them, of course, that criminal choices have consequences upon public discovery.

The following is my e-mail to Wendy Gordon, Communications Deputy to Anthony Portantino that followed our phone conversation. I cc-d Carol Liu’s consultant, Robert Oakes, who received a similar e-mail.

Hi Wendy,

Thank you for our conversation. Please know that few people, even in your official capacity, are aware of the colossal accounts revealed in the state’s Comprehensive Annual Financial Report (CAFR). I’m happy to brief anyone on what this public data shows and means. I’m also willing to help Anthony formulate a response at his request. Beyond the enormity of our state CAFR showing $600 billion in our investment and cash portfolio, the total of all California various government CAFRs is $8 trillion.

Yes, this is a game-changer 🙂

Please know that I’m BCCing several hundred people/activists in our conversations regarding a California legislator’s legal responsibilities of acting in public service, and that I promise to update the public on your office and Anthony’s responses (I’m also in contact with Robert Oakes at Senator Carol Liu’s office). My published work is often reposted to millions of readers, as are several others receiving this e-mail.

This published article will walk you through the data: Californians’ $8 trillion in tax surpluses: what to ask your state, local reps

Here’s what the Outlook published on page 4 of the June 7 issue… (omitted, and 250 word version of this)


This is the next follow-up letter to the editor:

As promised, I contacted our state representatives regarding California’s Comprehensive Annual Financial Report (CAFR) data showing $600 billion in our public investment fund. Assemblymember Portantino’s press representative Wendy Gordon, and Senator Liu’s Sacramento contact Robert Oakes both confirmed they received my request for public response to the seven points in this published article you can Internet search: “Californians’ $8 trillion in tax surpluses: what to ask your state, local reps”.

The $8 trillion is a sampling estimate of the total tax surpluses in California’s ~14,000 various government CAFR data.

If this figure is accurate, and it’s probably conservative, then each California household has been overtaxed by a present-day value of over half a million dollars ($500,000). Of course, these colossal investments should be considered by multiple and independent cost-benefit analyses to discover our options; we can’t simply all cash them in.

The understandable need for “rainy day” accounts would not be needed if California had a state-owned bank like North Dakota to extend at-cost credit for temporary budget deficits (North Dakota is the only state with its own bank and the only state with increasing budget surpluses).

Our economic problems literally only exist on paper because we have workers and work to be done, game-changing technological breakthroughs, and capacity to issue debt-free currency to bring them all together. The article title above explains and documents the details.

I promise to provide updates on Anthony and Carol’s responses.


Next: Senator Liu, Assemblyperson Portantino’s first responses: heroes or minions?

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