California’s Prop. 40 Sparks Wealth Tax Debate: Will It Drive Taxpayers Away?

The only map you need to see as California’s billionaire tax fight heats up

California voters are set to decide whether to slap a new tax on the state's billionaires as IRS data show thousands of taxpayers, and billions of dollars in income, are already flowing out of the Golden State.The outflow is adding fuel to the debate over California's proposed billionaire tax, with Mark Cuban warning Saturday the measure could drive not only wealthy residents but investment and startups out of the state.Cuban's warning came amid…

California’s Prop. 40 Sparks Wealth Tax Debate: Will It Drive Taxpayers Away?

California’s Proposition 40 is sparking a heated debate over taxes, wealth and the state’s economy. John K. Cooper, president of the Howard Jarvis Taxpayers Association, joins One America News to discuss the proposed measure, which he says could drive wealthy taxpayers out of California and further shrink the state’s tax base. Join this channel to...