A key architect of California’s controversial billionaire tax acknowledged this week that the proposed one-time levy may end up becoming permanent. Economics professor Emmanuel Saez made the admission during a Tuesday debate against Arthur Laffer, the father of trickle-down economics, at the University of California, Berkeley. The billionaires tax — proposed by the Service Employees International Union–United Healthcare Workers […]
The “billionaire tax” has qualified for the ballot, according to the union organizers who launched it. It may lose in November. It may be thrown out by the courts. It is already hurting California. Almost as soon as the SEIU-United Healthcare Workers West launched its signature drive, many of the state’s billionaires moved out of California. […]
The allure of a simple tax on the ultra-rich is undeniable. California, a state of immense prosperity, simultaneously struggles with some of the highest rates of wealth inequality in the nation. Yet the proposed California Billionaire Tax Act is a profoundly ill-conceived measure that threatens to inflict more damage than it promises relief. Far from a silver […]
California’s proposed one-time wealth tax on billionaires would leave the state worse off by an estimated $25 billion once lost income tax revenue is considered, according to new research by Hoover Institution scholars. Hoover Institution (Stanford, CA) — California’s proposed one-time wealth tax on billionaires would leave the state worse off by an estimated $25 billion once […]
The Service Employees International Union-United Healthcare Workers West (SEIU-UHW) is back with yet another ballot measure that is ridiculous on its face — and will result in a lot of wasteful political spending. In 2018, 2020 and 2022, the union put forward statewide ballot measures threatening a laundry list of mandates and regulations on California’s […]
