California’s Billionaire Tax: A Game of Make Believe Money
California is chasing opportunity right out of the state.
Progressive lawmakers are slapping a massive new price tag on the Golden State — one so high it could drive out the businesses, founders, and job creators who built California’s economy.
California’s proposed Wealth Tax Act, better known as the Billionaire Tax, would hit roughly 200 Californians worth more than $1 billion with a one-time 5% tax on worldwide net worth.
Even Gavin Newsom has warned that state-level wealth taxes accelerate the California exodus, pushing innovation, investment, and jobs out of the state.
Here’s why taxing…
The skinny
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