California Constitutional Convention

Some influential folks are pushing the idea of a constitutional convention in California.  At issue is the budget paralysis that regularly cripples state finances.  A key point of contention is the requirement that taxes can only be raised by a 2/3 super-majority vote in the legislature.  Some want this bar reduced. 

What a perfect venue to consider enacting the Hedge Tax!  Establishing a single rate tax applying to the top 80% of earners, a small asset tax for the truly wealthy and a balanced budget requirement will solve many of California's fiscal problems.  WIth the Hedge Tax, budget paralysis goes away.  The focus will instead turn to spending issues, since taxes will always move up or down with changes in spending.