Philosopher George Santayana's famous maxim that "Those who ignore history are doomed to repeat it" should be engraved on large slabs of Sierra granite and permanently affixed to the wall of every office in the state Capitol - and quickly, because a much-weakened Gov. Arnold Schwarzenegger and a reality-oblivious Legislature may replay one of California's worst political blunders. A half-decade ago, as California's dot-com bubble began to burst, those holding stock or stock options in shaky high-tech companies liquidated (or at least the smarter ones did). The state experienced a huge, one-time surge in personal income tax revenues from the...