Earlier quoted context omitted.
> 4. Increase taxes on the wealthy, etc. This won’t work. When the tech exodus begins, it’s going to cause CA to buckle at its knees because the wealthy has been subsidizing more than 80% of the population. It is not sustainable or healthy at all to suckle at the teat of the wealthy. We should abolish all taxes and only retain taxes based on consumption. And a flat modest capital gains tax. With dedications gone, thi…
> the wealthy has been subsidizing more than 80% of the population CA does not tax wealth, they tax (predominately) income, and I wouldn't be so quick to equate the 2. Prop 13, for example, can mean that wealthy land owners pay almost nothing in tax if they've owned their property for a long time.
https://www.taxfairnessproject.org/ generally the wealthier you are the bigger your tax cut.