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Tax Scholars Oppose California Billionaire Tax in New Survey

By PulseAugur Editorial · [1 sources] ·

A recent survey of tax scholars indicates that approximately 70% would vote against California's proposed "billionaire tax" (Proposition 40). The survey, conducted by Jeff Hoopes of the UNC Tax Center, polled members of the National Tax Association, revealing that accountants were the most opposed, followed by economists, while lawyers showed more support. Concerns cited by scholars include the potential for billionaires to relocate to other states or countries, similar to instances in Norway and Elon Musk's move from California to Texas, which could significantly reduce projected tax revenue. AI

RANK_REASON The item is a survey of expert opinion on a policy proposal, not a direct policy announcement or regulatory action.

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Tax Scholars Oppose California Billionaire Tax in New Survey

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COVERAGE [1]

  1. Fortune TIER_1 English(EN) · Catherina Gioino ·

    About 70% of tax scholars would vote against California’s billionaire tax, a new survey finds

    Economists and accountants overwhelmingly oppose Prop. 40, while law professors lean yes, according to a UNC professor’s poll of 105 tax academics.

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