Tax the Rich? California's Wealth Tax Explained | Jim Righeimer

“Oh, it's just 1% more. It's 1% more, but that extra 1% makes somebody say, You know what? I don't want to pay 13.9 How about I pay you nothing?"

Siyamak sits down with Jim Righeimer, former mayor of Costa Mesa and host of Radio show, Weekend Answer. California is considering to impose a wealth tax on people who have more than $50 million assets. It is estimated to generate 21 billion tax revenue for the state.

#wealthtax #california #taxes

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