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A proposed billionaire wealth tax in California is sparking debate over whether the measure, if passed, would lead to more harm than good if ultrawealthy residents in the state flee to other locales.

A proposed tax targeting California's wealthiest residents is drawing strong support from likely voters, but critics warn it would discourage investment and trigger an exodus of high-income earners ...

Forbes contributors publish independent expert analyses and insights. Nathan Goldman is a tax prof. at NC State Univ. 3D render of two puzzles pieces with the words "economy" and "growth" lying on top ...

The Billionaire Tax Act would impose a one-time tax of 5% on the total wealth of California tax residents whose net worth is $1 billion or more. The proposed wealth tax would apply to those who are ...

California Gov. Gavin Newsom acknowledged that the state’s proposed wealth tax is bad economics. Newsom said he feels vindicated in opposing the proposed wealth tax after reports showed some of ...

“Good riddance.” That was the response from one California commentator when several billionaires announced plans to leave the Golden State late last year to avoid a proposed “billionaire tax.” The ...