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

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.

1 sources · 1 articles · updated 2026-10-21 20:42 UTC · business

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

   Fortune · 2026-10-21 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.

   Summary on nerom.app