The California billionaire tax is very likely a net revenue loser

28 Oct 2026 Leave a comment

by Jim Rose in applied price theory, econometerics, entrepreneurship, politics - USA, public economics Tags: , ,

This paper examines the revenue and migration impact of the 2026 California Billionaire Tax Act, a one-time 5 percent tax on the worldwide net worth of individuals exceeding $1 billion. Using data from the Forbes Billionaire List, news reports detailing the residential real estate holdings of California billionaires, and public announcements of billionaire departures from…

The California billionaire tax is very likely a net revenue loser

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