# California Billionaire Tax Causes Negative Revenue

https://www.nber.org/papers/w35899

A 2026 California tax on billionaires is projected to generate negative net state revenue. The one-time 5% tax on wealth over $1 billion collects $28–36 billion. However, billionaire departures and income tax losses offset this, resulting in a net present value of -$38.9 billion.

#california #tax #billionaires #revenue #wealtheconomy

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Canonical URL: https://qwibbit.com/q37798

Created: 2026-10-31T08:37:26.464985+00:00

Last edited: 2026-10-31T08:37:26.464985+00:00

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Origin: Syndicated

Original source: https://www.nber.org/papers/w35899