At Los Angeles Times, "Tax hikes won't stop school cuts, California budget advisor says."
Even if the Governor Brown's confiscatory ballot initiative passes, Mac Tayler, the Legislative Analyst, warns that:
...state revenue will become increasingly unpredictable if government relies more on tax receipts from high earners, whose income can fluctuate dramatically. That reliance would grow under Brown's tax plan.
"Already, California's budget is dependent on volatile income tax payments by the state's wealthiest individuals, and the governor proposes that these Californians pay more for the next few years," Taylor's report said. "As has become evident in recent years, differing fortunes for these upper-income taxpayers can create or eliminate billions of dollars of projected state revenues."
California is a human disaster and has been for decades. The state – and much of its population – is the exemplar for profligacy and mindless, careless debt. The few ants that are left will simply move to Arizona and Nevada. The California culture of grasshoppers deserves to fail, deserves to freeze to death in the coming economic winter.
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