I agree, mostly.

Your ideas of how to finance are noble but not 'realpolitik'. Massive focused bond financing of the 'state' is what built the infrastructure of the state of California through the massively financed university education system which is the most dynamic in the world having created or contributed to most of the improvements in our societies.

And then Prop 13 effectively eliminated property taxes, gutting pre-university education and after-school programs. In addition, the habit of raising taxes through propositions earmarking the funds for specific purposes has shrunk the general fund to such an extent that the Governor has no flexibility left. Then the State legislature decided to give people a rebate on their Car tax as long as the budgetary situation allowed it, and when Davis they tried to reverse the situation because education and health care were going through the dogs through underfunding, Arnie replaced him on a platform to repeal the car tax "increase" and expand after-school programs (see above), and immediately went on to call a budget emergency. Gah.

Bush is a symptom, not the disease.