Big government is the new West Coast craze

One of the big problems with higher taxes on the rich is that it can create a situation where over 50% of the tax revenue (and sometimes more than this) comes from a handful of wealthy individuals and businesses.

When they leave or there is a downturn in the economy in their industry, there is a massive drop in tax income and the state suffers.

It also puts the wealthy into a much bigger position of power because they can now demand favors in return.

Ikea, a Swedish company, barely pays any Swedish taxes and moved their HQ to the Netherlands. Although the government knows they are getting around the tax laws, they won't do anything about it because a large portion of the Swedish economy (IE: jobs) is reliant on them.

It would be much more beneficial to society if taxes were more evenly distributed, so the majority of the money isn't coming from any one source.

California isn't prospering because of big government, it's prospering in spite of it. If it had a smaller government with less regulations, we would probably see even more prosperity and jobs.

"is a two-pronged attempt to boost growth through more regulation and, yes, higher taxes. It is already winning and already spreading."

Most business owners I know in California are leaving to other states because of both regulations and higher taxes. Regulations have created a situation where housing costs are exploding and $150,000/year is considered barely making it.

The middle class is slowly being squeezed and we will soon have only the very rich and the poor. I don't really want the entire United States in the same situation.