Opponents of California Wealth Tax Ramp Up Campaign

Opponents of California Wealth Tax Ramp Up Campaign

“Opponents of California’s proposed wealth tax are turning to the same tool as its champion: the ballot initiative,” Politico reports. “A multi-pronged campaign to undercut the proposed one-time, 5 percent levy took a significant step forward Tuesday, when rival ballot initiatives rolled out veteran staffers and secured support from a ballot committee bankrolled by some of California’s wealthiest residents.”

Billionaires flee California as proposed wealth tax sparks high-stakes exodus

A proposed 5% tax on billionaires’ unrealized gains is prompting tech leaders to buy property, shift businesses and weigh moves to Florida, Texas and Delaware ahead of a possible November vote

Sergey Brin leads billionaires’ fight over California wealth tax

The Google co-founder and other elites have spent millions on a plan to halt the planned tax that has reportedly resulted in 200 billionaires leaving the state.

California’s Billionaire Tax and State-to-State Flight

Bob lays out California’s proposed 5% wealth tax on billionaires, using it to explain why taxes on wealth are especially destructive, how different tax structures change incentives, and what recent migration data says about people voting with their feet.

Sergey Brin-Backed PAC Pushes to Counter California Billionaire Tax

“Yes!” to the Billionaire Tax, and Why We Must Redistribute the Wealth of the Ultra-Rich — The Berkeley Pulse

With the one-time 5% wealth tax on billionaires  coming to a vote in California this November, it’s  worth examining why such an idea was proposed in  the first place, why the ultra-rich are against it, and why many believe it’s morally necessary.