Not enough stupid rich folks left to tax. With a $42B hole to close (so they say - I believe it’s closer to $50B), you could jack up the top end rate to 100% and not even come close.
The smart ones either moved out of state completely, or are domiciled out-of-state and still living in CA in their “second homes”.
Personally, this scrubs the plans we had to replace our two cars (one nine and the other seven years old) this year. From what I hear from other folks, lots of rumblings about cutting back on taxable purchases and/or moving out of state.