That saying about running out of other people's money when it comes to government couldn't ring more true.
California ranks 48th overall on the 2026 State Tax Competitiveness Index. Explore California tax rankings and see how the state compares.
taxfoundation.org
California is already ranked top 3 in most taxation measurement indexes.
But all that isn't enough. They need an actual proposed wealth tax which means you get taxed on assets that have not changed hands, that are not realized as gains and that are not even liquid.
Democrats love their slaves and here's the thing, even billionaires will be their slaves for you can do nothing nor own nothing without them demanding their share of it.
These proposals have come up several times now and many wealthy individuals and businesses continue to flee Califonia.
To top it off, this measure wants to be applied retroactively. So even if you left before it was voted on and applied, too bad. California is like an abusive spouse you can't escape even with a good restraining order.
The funny think is this is always portrayed as the end state instead of the next logical progression in the total take over. California's income tax rate is already deeply progressive. The rich deliver about 50% of all state revenue. That still isn't enough nor will it ever be enough.
Anyone with a brain should or has fled California.