The folks with money to invest in California are worried about the state's fiscal shape, and specifically about mounting unfunded pension liabilities for state and local workers. A new poll by UBS of its clients in California found about half were worried that the state's steep pension debt would have a long-term impact on their own personal wealth, while more than half felt the state's budget woes in general would crimp their financial future. "We are a very high-tax state, and we are getting less and less for it all," a UBS officer said in interpreting the results.
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