Nobel economists back California billionaire tax ahead of 2026 vote

California's billionaire tax will 'kickstart a movement' that spreads to more states, the federal government and other countries, Nobel laureates say

"The explosive growth of the state’s billionaires over the past few decades has made it one of the most unequal places in America."

Nobel Economists Throw Support Behind Billionaire Tax

“A group of progressive Nobel Prize-winning economists has joined the fray in California’s battle over what would be the first wealth tax in the U.S. if state voters approve the measure in November,” the Financial Times reports. “Six laureates including Joseph Stiglitz and Peter Diamond have penned an open letter backing the proposed one-time 5 […]

California’s billionaire tax will ‘kickstart a movement’ that spreads to more states, the federal government and other countries, Nobel laureates say

A ballot initiative that would impose a wealth tax on California’s billionaires could be the start of a global trend, according to six Nobel Prize-winning economists. In a letter published on Saturday, they endorsed the state’s Proposition 40, which calls for residents worth more than $1 billion…

Nobel economists back California billionaire tax ahead of 2026 vote

The endorsement may enhance public trust and political momentum, potentially influencing similar wealth tax initiatives nationwide.