Part 3/14:
Hansen shifts focus to California, critiquing the state’s financial and political decline. He points out that California has lost approximately $53 billion in adjusted gross income to other states, mainly due to high taxes—13.3% on income tax, particularly impacting capital gains. The fiscal consequences are dire, with California already facing projected deficits of $15-20 billion under Governor Gavin Newsom, amidst ongoing scandals and mismanagement.