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Thursday, October 22, 2026Updated 00:53 UTC

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Billionaires fleeing California could turn a $30 billion tax windfall into a $39 billion loss, Stanford economists warn

Source: Fortune · Oct 21, 2026 20:42 UTC

Racks of computer data storage tapes in a server room aisle — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

Departures have already erased nearly 30% of Prop 40’s tax base, a new NBER paper estimates. The tax’s architects say the math assumes losses that won’t last.

Read the full story at Fortune

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