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.
Learn more from Joshua D. Rauh.
- Read “The Net Present Value of the Billionaire Tax Act: An Assessment of the Fiscal Effects of California’s Proposed Wealth Tax” by Joshua Rauh here: https://www.hoover.org/research/net-p…
- Read “Sacramento created California’s budget problem — billionaire tax won’t fix it” by Joshua Rauh here: https://nypost.com/2026/05/31/opinion…
- Read “Medi-Cal and One Big Beautiful Bill: Federal Medicaid Reforms and the Fiscal Premise of California’s Billionaire Tax Act” by Joshua Rauh here: https://papers.ssrn.com/sol3/papers.c…