The California Wealth Tax Could Wind Up Costing the State Money

Billionaire Tax Could Cost the State $25B

YouTube@NBC News California’s proposed one-time tax on billionaires could cost the state 25-billion dollars after considering lost income tax revenue.  Researchers at the Hoover Institution say the tax would also only bring in about 40-billion dollars, far less than the 100-billion supporters of the tax expect.  Six billionaires have already left California, taking nearly 30 percent of billionaire wealth with them.  The billionaire tax would ch…

The California Wealth Tax Could Wind Up Costing the State Money

Stanford study finds California Wealth Tax may cost state $25B due to billionaire departures and lost income tax revenue.