Post #2790229
2026-05-11 02:48 UTC
From https://finance.yahoo.com/news/only-6-billionaires-left-california-073000585.html
Six of California’s 214 billionaires have been widely reported to have left the state in time to avoid a proposed 5% wealth tax—but that small cohort would have collectively generated $27 billion in tax revenue, roughly a fourth of the initiative’s projected $100 billion haul.
Replies (1)
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@zergtoshi@lemmy.world 2026-05-11 06:20
So there's still an expected $73 billion in tax from the remaining billionaires. That's $73 billion more than without that tax. How is that not a good result?