Source: Reason
by JD Tuccille
“California’s potential adoption of a one-time 5 percent ‘billionaire tax’ on the net worth of high-value individuals is already sending wealthy residents fleeing for the exits. By one estimate, at least a trillion dollars has moved beyond the reach of state officials. But a new analysis says the tax may be even more onerous than advertised. Californians may need to get used to the sight of moving vans leaving the state.” (01/21/26)
https://reason.com/2026/01/21/californias-billionaire-tax-could-bite-harder-than-advertised/