California tax revenues from income tax, sales and corporate taxes, are down in the first five months of the years by over a billion dollars. And, it is not getting any better. Spending is going up, revenues are going down, CalPERS has to steal $6 billion to stay open, cities and counties are unable to afford the pension contribution increases without higher taxes or less service and safety. Big firms are leaving California and the news jobs are warehouse jobs at $15 an hour until the robots and computers take them over.
“The forecast says all signs point to lower income tax receipts rather than higher ones. more here