If your parents earn $150k/year in California, their after-tax income will be about $100k/year.
If I was to propose something I'd make in state tuition fully free for residents, and if that cost too much maybe make people do the first 2 years at a community college. Honestly I credit community college with turning my life around. I ended up graduating from a state school and I'm very happy with my degree! It's not in computer science, but after a very long journey I feel it's something to be proud of.
The best part about college is your free to take time off and finish later.