Here is the Executive Summary, with excerpts:

It is telling that a state as beautiful as California has the nation’s second-largest domestic population outflow. Despite warm weather, sandy beaches and the Pacific Ocean, Californians are leaving in droves to escape the state’s oppressive tax burden. These former citizens are generally the “highest achievers and those with the most wealth, capital, and entrepreneurial drive,” leaving the state much less economically productive in their wake.

… some states show little concern for spending restraint, whether during times of prosperity or poverty—in some cases spending their way into financial ruin. The case of recalled governor Gray Davis of California serves as an important example. By coupling high taxes with rampant government spending, California had a budget crisis of historic proportions. At the time, Carl DeMaio of The Performance Institute argued for the “need to stimulate the economy without further burdening taxpayers or driving more businesses out of state.” It is clear that California did not follow that advice and still doesn’t. Unless our current lawmakers choose the path of fiscal restraint, the mistake could soon be repeated.

This is not about Republican versus Democrat, or left versus right. It is simply a choice between economic vitality and economic malaise. To become competitive in the global business environment of the 21st century, states must have free-market, pro-growth tax systems in place, rather than increasing the ever-burdensome role of government on citizens. May this publication help lawmakers act responsibly by encouraging capital formation and allowing the dreams and entrepreneurial spirit of their fellow man to flourish.