Yeah, the state government is almost bankrupt because taxes are too low!
Do you even understand economics at all? Lower taxes cause economic growth, which causes higher revenues in the long run. When you tax and environmentalize businesses out of the state, of course pretty soon you've got no one to tax. California has been controlled by Democrats for a long time now, and is one of the most liberal states in the country. In addition the Federal government doesn't do anything to control our borders, hence Californina is flooded with illegal aliens, so there's your 20% poverty rate.