This is a myth. Due to various propositions restricting taxes, the California state government experiences significant booms and busts. When the busts do happ

This is a myth. Due to various propositions restricting taxes, the California state government experiences significant booms and busts. When the busts do happen, the deficits are negligible relative to the size of California's $2.5T economy - the 7th largest in the world. Sources: http://www.washingtontimes.com/news/2016/nov/12/taxing-rich-wont-solve-californias-boom-bust-budge/ http://www.washingtontimes.com/news/2016/nov/12/taxing-rich-... https://www.bloomberg.com/news/articles/2015-01-16/brown-s-california-overtakes-brazil-with-companies-leading-world https://www.bloomberg.com/news/articles/2015-01-16/brown-s-c...