California must fix spending. There is rampant waste - in the form of inefficient government work but also reckless spending on programs that support grift through nonprofits and private companies. I also wonder about the pensions and how they get exploited by workers who artificially boost their compensation in their final few years to secure a high pension. A one time tax won’t do anything to fix these issues. If they can’t cut spend in half and reduce taxes, they will be in decline and their credit ratings will fall.