Monday, August 24, 2015

"Steyer has shied away from taking responsibility for, or being critical of, these dismal results, even though one of his top advisors serves on the Proposition 39 oversight committee that, ironically, has yet to meet."



A decade ago, former CBS News correspondent Bernard Goldberg authored a book titled 100 People Who Are Screwing Up America. If Goldberg were writing today about Californians, he would no doubt include billionaire Tom Steyer near the top of the list.

Steyer achieved his extreme wealth as a hedge fund manager, an uber capitalist whose profitable investments have included oil, gas and coal.

In 2012, he separated from the management of his company – he still owns shares – and committed to a “green” agenda. He became the leading sponsor and financial backer of Proposition 39 on the 2012 ballot, which was sold as pro-environmental reform measure virtually guaranteeing its passage by Californians understandably concerned about the environment. Proposition 39 increased taxes on businesses — those evil companies that provide so many Americans their jobs — and directed the money be put into something called The Clean Jobs Energy Fund. Steyer promised it would bring in $550 million and create 11,000 jobs per year. But a recent investigation by the Associated Press reveals that it has raised less than 60 percent of that amount over three years, and has created only 1,700 jobs mostly for consultants and auditors.

Steyer has shied away from taking responsibility for, or being critical of, these dismal results, even though one of his top advisors serves on the Proposition 39 oversight committee that, ironically, has yet to meet.

However, Steyer continues to insert himself and his views into the political arena. In 2014, he spent $57 million of his personal fortune in support of out-of-state candidates for the Senate and governor, most of whom lost. And there is talk of his being a candidate for governor in 2018.

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