California's Proposed Billionaire Tax Will Cost the State an Estimated $25 Billion, Hoover Study Finds

California's Proposed Billionaire Tax Will Cost the State an Estimated $25 Billion, Hoover Study Finds

California’s proposed one-time wealth tax on billionaires would leave the state worse off by an estimated $25 billion once lost income tax revenue is considered, according to new research by Hoover Institution scholars.