Letters to the Editor: The entire premise of California’s proposed one-time wealth tax is misleading

California's Tax On Billionaires May Work -- But There's A Better Solution

A coalition of unions and other progressive groups is trying to get an initiative on California’s ballot this fall which would impose a five percent tax on the wealth of the 200-250 billionaires living in the state. The tax would be retroactive, so it applies to billionaires who lived in the state as of January 1 of this year. The supporters estimate that it could raise $100 billion, almost 30 percent of the state’s annual budget, although the t…

Letters to the Editor: The entire premise of California’s proposed one-time wealth tax is misleading

'Any "tax expert" with common sense is well aware that many — perhaps a significant majority — of the targets of the tax will contest it (and aggressively discount their assets in self-assessing their tax),' writes an L.A. Times reader.

Atlantic: The California Wealth Tax is a Risky Bet

The California wealth tax faces challenges from billionaire migration and potential revenue loss.

California Billionaire Tax Creates Valuation Nightmare

California's proposed 5% billionaire wealth tax faces major valuation challenges as appraisers risk huge penalties for undervaluations