A billionaire wealth tax, proposed as a straightforward, one-time solution to raise revenue actually points to a sharp drop in tax revenue, a shrinking tax base, fewer jobs, and stagnant economic growth.
California YIMBY is taking a formal position against the One-Time Wealth Tax (California Billionaire Tax Act or “CBTA”) headed for the November ballot. For an organization built around housing, that may look like a detour. It isn’t, and we want our members to understand exactly why. TL;DR: While we believe taxes are good – they’re the price […]
We just published a research paper analyzing California’s proposed Billionaire Tax. While other research has focused on arguments about how much revenue the tax would raise, this new paper concentrates most of its attention on the economic effects of the tax on the California and U.S. economies—specifically, whether a wealth tax on California’s billionaires threatens the unique […]
What You Need to Know: The CMA Board of Trustees has voted to oppose the proposed Billionaire Tax Act, warning that the ballot measure would increase budget volatility, lacks accountability and is not a sustainable solution to California’s health care funding challenges. Physicians remain committed to protecting Medi-Cal and pursuing long-term funding solutions like the proposal […]
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 […]
