> All the remedies I've seen proposed to fix this "problem" essentially just raise taxes on top earners. I can't think of a worse place for that money than in t

> All the remedies I've seen proposed to fix this "problem" essentially just raise taxes on top earners. I can't think of a worse place for that money than in the hands of a politician. There are two other problems with too much progressivity. (1) govt revenue becomes extremely volatile. Rich people tend to have more volatile incomes, so when they take a hit, anyone dependent on them takes a hit. (2) Rich people have more choices in how and when they recognize income. WRT (2), CA has a fair number of people who get rich on paper, move out of the state, and then turn their wealth into cash. Since the latter is the taxable event, CA loses.