Ya, it seems like an effort to stop the bleeding.  The problem is that it will do the opposite.  More tax burden on the wealthy while the poor get free handouts making them increasingly dependent upon the government, which is then increasingly dependent on their shrinking tax base.  Meanwhile more poor move in for handouts and more wealthy move out to keep more of their earned income.  It's a downward spiral that I don't believe can be stopped at this point.  California will become a homeless empire with pothole filled roads and shit covered sidewalks while the rest of the country will have to deal with the onslaught of liberals looking to destroy their next state with ridiculous regulations, taxes, and overzealous politics.