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Stanford economists warn California billionaire tax could leave state $39 billion poorer
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California's ambitious billionaire tax plan is projected to yield only $30 billion instead of the anticipated $100 billion. Analysis reveals a concerning 30% decline in the tax base as affluent individuals move out. This exodus could lead to a staggering loss in income tax revenue, estimated at $39 billion in the long run.
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Stanford economists warn California billionaire tax could leave state $39 billion poorer
TOI TECH DESK · 10/27/2026, 4:09:34 AM
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