Will California's Wealth Tax Stop at Billionaires? | Josh Rauh

California voters will decide this November whether to impose a one-time wealth tax on the state's roughly 200 billionaires, a measure pitched by supporters as narrow and temporary. But some high-net-worth Californians are not waiting to see whether it passes. Several prominent founders and investors have already moved, reduced California ties, or shifted assets ahead of the proposal's Jan. 1 residency date.

Supporters say the tax would directly apply only to the wealthiest sliver of residents. Not everyone in its path is convinced the one-time label will hold.

Joshua Rauh, Ormond Family Professor of Finance at Stanford's Graduate School of Business, argues the exodus carries costs well beyond the billionaires themselves. He sits down with California Insider to explain what is written into the measure that has some of the state's wealthiest residents preparing for it as if it will not stop at one time.

00:00 - Intro
00:54 - Impact of Wealth Tax on Economy
05:07 - Proposed Use of Wealth Tax Revenue
07:45 - Economic and Philosophical Implications
13:57 - Student Perspectives and Billionaire Creation
19:27 - Impact on Publicly Traded Companies
22:09 - Proposals for Economic Prosperity
24:39 - Public Spending and Pension Funds


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Views expressed in this video are the opinions of the host and guests and do not necessarily reflect the views of California Insider.
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