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California’s wealth tax proposal pits fiscal fantasy against economic reality
The 2026 Billionaire Tax Act aims to raise up to $100 billion for health care but may cause billionaires to leave, risking hundreds of millions in annual tax revenue, analysts warn.
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4 Articles
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California’s wealth tax proposal pits fiscal fantasy against economic reality
Last week, the state’s Legislative Analyst’s Office released its initial description of the “2026 Billionaire Tax Act,” a one-time, 5 percent tax on these individuals’ net wealth. Its conclusions should concern every California voter. The LAO confirms what we’ve been documenting at Stanford’s Hoover Institution: a proposal that exchanges an uncertain, short-term revenue windfall for a predictable and disastrous long-term erosion to California’s …
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Total News Sources4
Leaning Left0Leaning Right0Center4Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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