CA tax initiative

[Jim Devine <JNDF%LMUACAD.BITNET@xxxxxxxxxxxxxxxxxx>]

happy new year!! A friend asks me to ask pen-l the following questions:

Leftists, laborites, and liberals are currently pushing a state-wide
initiative in California that will raise taxes on the rich and/or the
corporations.  One of the backers in the SEIU, a biggie in CA.  SO:

has anyone done any research on the response that capitalists will
pursue to such an initiative, if passed?  will they leave, or are
they just threatening to do so in order to influence the outcome?
are they able to leave in sufficient droves to ahve an impact?
will they be attracted to stay in CA if the money is to be spent on
such things as infrastructure and education?  In general, what will
the initiative's impact be?

I would also appreciate some details on what the initiative is
proposing.  Someone must know.  Nathan?  Anders?

in pen-l solidarity,

Jim Devine   BITNET: jndf@lmuacad.   INTERNET: jdevine@xxxxxxxxxxxxxxx
Econ. Dept., Loyola Marymount Univ., Los Angeles, CA 90045-2699 USA
310/338-2948 (off); 310/202-6546 (hm); FAX: 310/338-1950