If passed, this would be a huge incentive for the rich to avoid living in or even traveling to California, and not even so much for the amount of the tax as for

If passed, this would be a huge incentive for the rich to avoid living in or even traveling to California, and not even so much for the amount of the tax as for the enormous decade-long legal, accounting, and compliance burden that would suddenly hook on to them like a barnacle. Every tax lawyer in the world would tell their clients that California is now radioactive: "touch it, and I'll be racking up $400 billable hours from now until your kids are in college".