Proposition 208 constitutes a huge gamble with Arizona’s economy. It would give the state the 9th highest marginal individual income tax rate in the country.
As a general rule, states with high income tax rates have underperforming economies, measured by growth in employment and personal income.
There are exceptions. Proposition 208 is a bet that Arizona will be an exception rather than part of the rule, although there is little reason to believe that.
If the state is going to take a big gamble on its economy, there should be the potential for a big reward, a true gamechanger when it comes to the quality of K-12 education in Arizona. There’s nothing in Proposition 208 that remotely has that possibility.