Comment by everybodyknows

Those who pay the tax will assume the "one-off" label is false: if it works once, it will be repeated.

On my block alone, are the houses of (at least) two "49-percenters". 183 or a few more days of the year the owners are at their second homes in Arizona or Nevada, and gathering gas station receipts to prove it, while their California houses sit empty -- all just to avoid our state income tax.

How about that as a poster-child for misallocation of physical capital?