Explaining the insanity of taking out a 2nd mortgage and loaning $250K to I-1366
Getting one initiative on the ballot is brutally difficult. That’s what makes this truly extraordinary: working together, we’ve succeeded at qualifying four 2/3 initiatives for the ballot: I-960 in 2007, I-1053 in 2010, I-1185 in 2012, and this year’s Initiative 1366. It’s amazing.
In 2 of those campaigns (in 2010 and this year), I took out a 2nd mortgage on my home and loaned the campaign $250,000. In both cases, those initiatives barely raised enough money to get over the finish line, meaning without those loans, we wouldn’t have made it. My loan in 2010 was especially tough: it really screwed up my personal finances and it took over 2 years of fundraising to pay it off. I swore I’d never do it again.
So why did I do it again this year for Initiative 1366? Why did I take out a 2nd mortgage on my home again and loan the campaign $250,000 to get the ball rolling on I-1366’s signature drive?
Because this initiative is special. It just is. I can feel it when I talk with people about it.
Last year’s 2/3 initiative didn’t make it because the 2014 Legislature didn’t raise taxes — so voters didn’t “get” why it was necessary. This year was different: the 2015 Legislature raised taxes a jaw-dropping $17.5 billion. Even more disturbing, the 2015 Legislature PROPOSED AND SERIOUSLY CONSIDERED TAX HIKES TOTALING OVER $100 BILLION.
I knew that this initiative idea had a second chance but it wouldn’t get a third. That if we didn’t get it on the ballot this year, the proposal was dead.
This has always been true for me: I’ve never regretted the things I’ve done, only the things I haven’t done.
I’ve heard it called “The Rocking Chair Test”: picture yourself in your final days sitting in a rocking chair looking back on your life — which path did you choose? Do you regret taking one path and not the other?
I took the test when it came to Initiative 1366 and decided — qualify or not, voter approved or not — that I would regret more not giving it my all.
This initiative is special.
Opponents desperately tried to get the courts to prevent the people from voting on it because they’ve seen how much support our previous 2/3 initiatives received. Opponents know that almost 2/3 of voters want it to be tougher to raise taxes. They know that almost 2/3 of voters oppose a state income tax/capital gains tax. They know that voter approval of I-1366 will make their tax-hiking agenda harder.