The ‘billionaire tax’ is a nightmare for California’s finances — and that’s only the beginning

“California’s proposed ‘billionaire tax’  will collect less than half of what is promised — with a net fiscal effect that will leave the state in worse shape.

The state is attempting a crazy fiscal experiment: seeing how much revenue it can raise by aiming a large tax at a small group of people who are superbly well-equipped to move themselves — and their money — somewhere else.”