California’s Billionaire Tax: A Game of Make Believe Money

<p>California is chasing opportunity right out of the state.</p><p>Progressive lawmakers are slapping a massive new price tag on the Golden State — one so high it could drive out the businesses, founders, and job creators who built California’s economy.</p><p>California’s proposed Wealth Tax Act, better known as the Billionaire Tax, would hit roughly 200 Californians worth more than $1 billion with a one-time 5% tax on worldwide net worth.</p><p>Even Gavin Newsom has warned that state-level wealth taxes accelerate the California exodus, pushing innovation, investment, and jobs out of the state.</p><p>Here’s why taxing billionaires could end up setting California’s own economy on fire.</p><p>See Privacy Policy at <a href="https://art19.com/privacy" rel="noopener noreferrer" target="_blank">https://art19.com/privacy</a> and California Privacy Notice at <a href="https://art19.com/privacy#do-not-sell-my-info" rel="noopener noreferrer" target="_blank">https://art19.com/privacy#do-not-sell-my-info</a>.</p>