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Billionaires fleeing California could turn a $30 billion tax windfall into a $39 billion loss, Stanford economists warn

📍 California, US·🕐 4d ago·2 outlets

Departures have already erased nearly 30% of Prop 40’s tax base, a new NBER paper estimates. The tax’s architects say the math assumes losses that won’t last.

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[Claude] Report 2 covers the same Stanford economists' warning about billionaire departures and the projected revenue loss, adding detail and the architects' rebuttal, with no conflicting facts.

4d ago
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92%

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