Thank you, Mr. Skelton, for spelling out the economic obvious both consistently and persuasively. Millionaires and billionaires have no business telling the state how much money to take from their uber-wealthy ilk, even if much of it is their own money. I also appreciate that you point out the long-term economic hardship of the poor, who have less wealth to begin with yet struggle with sales, vehicle, and other ancillary taxes, all of which take a greater percentage from their savings than the wealthy must endure when paying the same taxes. It would have been good for you to point out that the rich have the means to move their wealth out of the state and into tax shelters every time Sacramento wants to take another bite out of their bank vaults.
To this day, Californians still fail to take note that the precipitous decline in government revenue is directly linked to our over-dependence on millionaire wealth. Volatility in revenue streams is a bad thing, no question about it.
