The Proposed California Wealth Tax Is Far Higher than 5 Percent

“This could send stock prices plummeting to the detriment of tech employees and investors of all stripes, including ordinary workers whose 401(k)s would take a beating…”



“[I]f the tax appears poised for passage, [it would] depriv[e] the state of jobs, investment, and existing tax revenue from some of the key players in California’s economy.”