Stephen Moore(@StephenMoore):California’s billionaire tax was supposed to raise $100 billion. Now a new study estimates $30 billion in collections against $39 billion in lost income tax revenue. When you chase away the people paying the bills, everyone else gets stuck with the tab.

Stephen Moore

@StephenMoore

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Stephen Moore@StephenMoore

2026.10.20 16:59

California’s billionaire tax was supposed to raise $100 billion. Now a new study estimates $30 billion in collections against $39 billion in lost income tax revenue. When you chase away the people paying the bills, everyone else gets stuck with the tab.