Idiot CA voters - of whom I’m not one, I voted against Propositions 30, 38 and 39, the tax increases - made another couple of slashes in their suicide-by-a-thousand-cuts. “Rich” people will move to other states, “rich” businesses will close their doors or move to other states, and the non-“rich” people of CA will pay the taxes of those businesses that stay, in the form of higher prices. The net effect? CA won’t collect anywhere near the extra revenue they fantasize they will, and may actually lose $$ due to businesses leaving, people leaving, and people changing their investment strategies (see my signature quote).
Meanwhile, the spendaholic pols think they’ve gotten a new fix, and will be wrangling over how many times they can spend each “new” dollar. CA voters still haven’t learned, but the tomfool pols in Sacto will keep demonstrating the stupidity of feeding their spendaholism.