Crazy Wealth Tax Proposals in California and New York City

Blue states: Time to tax the rich?

Across the nation, Democrats are waging a “war on wealth,” said the Washington Examiner in an editorial. In March, state lawmakers in Democratic-run Washington slapped a 9.9% levy on incomes over $1 million; Maine Democrats followed suit in April with a 2% surcharge. New York City Mayor Zohran Mamdani is currently seeking a tax on second homes worth $5 million or more. And in November, Californians will vote on a referendum that could gouge bill…

Targeting High Earners is Misguided and Will Worsen States’ Fiscal Positions

Policies that increase the tax burden on high earners makes states less competitive, increase revenue volatility, discourage investment, and risk accelerating outmigration of talent and capital. Many top-earners are already leaving high-tax states for Florida, North Carolina, and other low-tax jurisdictions.

Crazy Wealth Tax Proposals in California and New York City

As socialists gain power in American cities and states, they look to destroy the creation of wealth and to tax the wealth-creators into oblivion. We know how