To clarify...
PIT--personal income tax.
CEQA--California Environmental Quality Act (1970). Don't get me started about our current legislative session in RE CEQA.
AB 8--1979, implemented Prop 13. In short, redistributed tax dollars away from Orange County and San Diego County and towards Los Angeles County and Alameda County (to name four specific counties), then fixed the redistribution in perpetuity.
ZPG--zero population growth. Replacement is 2.10; we're at 1.55 at present. Worst in the world is the Korea Republic at 0.78.
As an FYI, I was a legislative staffer in Sacramento in the 1990s. I wrote my master's thesis on Prop 4 from 1979.
In absence of COVID, I don't believe we lose 24,000 of our top 1% personal income taxpayers. We would have had the normal bleed we have experienced over the last decade plus occurring instead. I do believe we were going to lose some of the top 170,000 during COVID regardless. Yes, the state's response caused more to leave than that seen historically. With that said, we do have a rather unique challenge in that there is a zero tax state right next door (and much lower cost of living) and, if you're the 1% and from the Bay Area, you can live in quite the level of comfort in Incline Village and still work in/for the Bay Area.
And, yes, once you purchase a house/commercial property, there is the inequity of having to pay top dollar in property tax. However, one does appreciate having Prop 13 afterwards. I know this for a fact because, when I moved to my current residence, I had four of my neighbours fully Prop 13 protected from 1978. Now, there's only one remaining.
At the end of the day, I should have never posted a response to this thread.