How does one explain how California is broke, tens of billions of dollars in aggregate debt, despite having among the highest sales and income taxes in the nation?
We are naturally rich beyond belief—timber, oil, agriculture, a long sea-coast, wonderful weather, mountains, sea, and valleys—and inherited lucrative industries in tourism, computers and software, defense and great universities. Our grandparents left us a once wonderful freeway network, a tripartite higher education system, ports, airports, dams and canals.
So what went wrong, and why are tens of thousands of Californians leaving the state with bachelor degrees and above, while tens of thousands enter without high-school diplomas?...
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