The problem is we spent too much money. The solution is to stop.
There will be real pain sooner or later, and it is better to take the medicine sooner. If we just increase taxes, they will not seriously cut spending. Then the tax base will go down and next year it will be worse.
The numbers of people leaving CA is scary, and they are people who make a lot of money. Super millionaires, like DiCaprio and the Hollywood Elite don't care. If they pay extra, they still have over 100 million left. But people who earn over 250K to 1 mil are the ones leaving.
If you keep raising taxes, more of them will leave and in 3 years you will have a 30 billion deficit.
It is true that property taxes are the easy one to get. But you just make housing more expensive in a depressed market. With thousands of foreclosures, to make it harder to sell a house only hurts.
I say an article that had the number of people who left CA stayed, they would have another 3 billion in taxes - one third of the short fall.
True not EVERYONE left for taxes, but a lot did, and almost all left for low tax states. Very few people would move from LA to Dallas, like two of my family did, for the weather.
They will have to cut many things now that hurt. If they keep on the same path, in 5 years, when another 100,000 wage earners have left, they will have to cut 3 times as much.