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

T1Covered by 1 source · first reported by Fortune at 21 Oct, 20:42 UTC

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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• T1Billionaires fleeing California could turn a $30 billion tax windfall into a $39 billion loss, Stanford economists warnFortune21 Oct, 20:42