California, not so long ago the flagship of the American federation, has been going under for quite a while now: overfreighted with lavish entitlements, embarnacled with suffocating regulation, and holed below the waterline by demographic disintegration. Because attacking the root of the problem by reducing the expansion of government is for deep-blue California an ideological impossibility, the Golden State, its gunwales now awash, has sought to stay afloat by the only means its ruling class can imagine: siphoning even more wealth from the dwindling few who still produce any of it.
Well, lo and behold: as more and more of its productive citizens and corporations abandon ship, California’s returns have done exactly that — diminished.
What’s that, America? Oh, right. Nothing to see here. Yes, we’ll move along.