The Case Against California’s Billionaire Tax Measure

Stanford University Professor Joshua Rauh argues that the proposed billionaire tax on California’s November ballot would face legal challenges, raise far less than proponents claim and push wealthy residents out of the state. Rauh, a senior fellow at the Hoover Institution, recently authored a study examining the potential effects of the tax if voters approve it this fall. Marisa sits down with Rauh to discuss the case against Proposition 40, which would impose a one-time, five percent tax on the overall wealth of California’s billionaires.  Check out Political Breakdown’s weekly newsletter, delivered straight to your inbox. Learn more about your ad choices. Visit megaphone.fm/adchoices