I agree with Glenn, it’s already happening. California is a vanguard and a microcosm of those who want to study the revolt. They just increased taxes, and guess what, no more revenue than before they did it. Why? The ‘rich’ are busy like an army of beavers restructuring their investments, companies, families, etc. to survive the new regime. They are deferring compensation. What isn’t there, can’t be taxed. If that happens nationally, Mr. Spendit is going to be in for a big surprise.