How a California Wealth Tax Proposal Could Undermine Philanthropy
“A wealth tax would threaten the success of the nonprofit sector in California, potentially spilling over into other parts of the state’s economy.”
Commentary & Blog
Press coverage, statements, and updates on Prop 40.
Video: The Billionaire Wealth Tax – A Recipe for Economic Disaster
The proposed tax points to a sharp drop in tax revenue, a shrinking tax base, fewer jobs, and stagnant economic growth.
Analysis: The California Billionaire Tax Act – Structural Weaknesses That Could Undermine Revenue Collection
“The nonpartisan Legislative Analyst’s Office has cautioned that revenues are difficult to predict and could be affected by taxpayer behavior and market volatility.”
Why California YIMBY Opposes the Billionaire Wealth Tax
“While we believe taxes are good – they’re the price of living in a society, and we generally need more of them – poorly-designed taxes are bad, and can lead to both economic and political harm.”
Analysis: The California Billionaire Tax Act – Constitutional Limits on Implementation
“[Prop 40] contains multiple constitutional defects built into its design.”
Report: Why the Billionaire Wealth Tax Is Not the Right Answer for California’s Fiscal Problems
“…a one-time tax would not solve the state’s structural fiscal problems…”
CMA opposes Billionaire Tax Act, citing concerns over long-term Medi-Cal funding
“…this initiative is the wrong approach. It lacks accountability, fails to provide a sustainable funding solution, and risks making California’s budget challenges worse.”
Report: California’s Proposed Billionaire Tax Will Cost the State an Estimated $25 Billion
“…[Prop 40] would leave the state worse off by an estimated $25 billion once lost income tax revenue…”