A significant financial burden has been placed on taxpayers due to a proposition passed in 1992. This proposition, known as Prop. 162, has made taxpayers responsible for the investment risks of public pension funds.
The financial impact of this proposition has been substantial, with taxpayers allegedly being cheated out of a large sum of money. The amount is reported to be $500 billion.
Further details about Prop. 162 and its effects are available from the source, providing more information on this significant financial issue.
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