The good news is, $120 million may not be enough to buy the ads needed to overcome the 'buy the office' problem. The bad news is, the election is as close as it is from the money.
Goldman Sachs - the compan I've cited for years as the poster child of problems.
CA now taxes earner income and capital gains at the same near 10%; Whitman, who reportedly gets pretty much all her income from capital gains, as do billionares generally, wants to completely eliminate the capital gains tax. I heard her sales pitch for doing so includes lies as well.
For example, saying she wants to 'align CA with other states' on not taxing capital gains.
Now, that would be a problem if true; playing states off against each other for better policies for the rich is a common tactic already that shifts taxes from the rich to the public.
But in this case, it's just a lie - there's no state in the US that taxes earned income and not capital gains, reportedly.
Saying 'align CA with other states SOUNDS good, but when it's actually shifting taxes yet more JUST for the benefit of the rich more than any state in the country, it's a lie.
I have to wonder, what if she kept her policies for the rich secret until after the election?