California's 'billionaire tax' will be 'disastrous' and cause wealthy to flee, economist predicts

Big Money Squabbles In California Over Its Billionaire Tax

Justin Klawans, The Week Californians worth more than $1.1 billion would pay a one-time 5% tax

Big-time money squabbles: the conflict over California’s proposed billionaire tax

Even while many Americans struggle with the cost of living, a proposed tax on California’s wealthiest people is loaded with controversy. The proposal would see a one-time 5% tax levied on California residents whose net worth exceeds $1.1 billion. But the proposal, which could potentially be on the state’s ballot during the November midterms, has led to infighting within both political parties and included California Gov. Gavin Newsom (D).‘It wil…

California's 'billionaire tax' will be 'disastrous' and cause wealthy to flee, economist predicts

An economist warns that California’s proposed "billionaire tax" could trigger a massive wealth exodus and cause long-term disaster for the state's economy.

Financial News Network - California's 'billionaire tax' will be 'disastrous' and cause wealthy to flee, economist predicts

An economic expert is warning that California's billionaire tax proposal could devastate the economy and lead to an exodus of high-income earners.Read More …

As ultrarich sweat, advisors tackle 'ripple effects' of proposed billionaire tax

Even though advisors doubt it will pass, California's proposed billionaire tax is already reigniting residency and wealth planning conversations.