Economist Warns Billionaires Tax Could Cost California $25B

By Madeline Shannon | The Center Square(Worthy News) – The proposed California billionaires tax would cost the state more money than it would bring in if the Golden State’s “golden goose” flocks to other states, according to a Stanford economist.Joshua Rahu, a finance professor at the Stanford Graduate School of Business, predicted the billionaires’ departures would cost California $25 billion.As work progresses on the one-time 5% wealth tax on California’s billionaires, opponents ha