As much as "the rich" are being taxed/penalized in CA, I'm wondering when they will start to leave the state. Or has that already begun? I know that if I were worth millions, I would get damn sick and tired of being singled out and punished for my success.
The "rich" have the means of leaving the state to escape the taxation. They are a small number of people. They pay a massively disproportionate percentage of the total tax revenues. A small movement out of the state will punch big holes in the revenue stream.
I saw the writing on the wall in 1999 and relocated from San Diego to Pocatello, Idaho. Damn good decision. Instead of wallowing in debt, cursing traffic and wondering when the next anti-gun law would make me a felon, I'm sitting in a 3900 sq ft house on 1/3 acre that I own free and clear. The lower cost of living has allowed me to invest in another house for the purpose of generating passive income. The education establishment in Idaho still consumes the majority of tax revenues, but it isn't nearly as ridiculous as California.