By the way...the rest of your post is BS
*"great stimulative effect": Yes increasing taxes also has a great stimulative effect.
*"Just reduce the worker's salaries": Or place more general obligation bonds, or raise taxes. Yes, all over the country workers are taking pay cuts. Time for CA public sector workers to sacrifice.
*" Ignore the elephant in the room - that revenues will also go down as these people will be paying less taxes, and buying less products, which will contract the economy": Or raise taxes and.....revenues will go down because more people will stop buying (to pay their already usurious tax load) they'll buy less, businesses will cut employment, and perhaps leave CA.
Oh but the public sector will be made "whole" and have avoided making a sacrifice. Maybe when the crisis facing CA explodes in their collective faces they'll have no choice but to take out their "budget ax" and hack indiscriminately at the budget. That will work better.
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