At this Minyanville,
look around your state and locality and start preparing now. The tax revolt is coming. Yesterday voters resoundingly defeated a slate of special election measures in California designed to deal with that state’s $21.3 billion shortfall…. The vote wasn’t even close. Voters rejected all but one of the six propositions on the ballot, approving a measure prohibiting pay raises for lawmakers and other state officials during deficit years.
As social mood continues to darken and turns increasingly negative, you should expect tax revolts across the country to become more aggressive. For a reference point, check out this paper by Mark Thornton and Chetley Weise, “The Success of the Great Depression Tax Revolts“.