California billionaire tax could result in future revenue loss, study shows

Read more... The proposed billionaire wealth tax that California voters will consider on the Nov. 3 midterm elections ballot will likely not raise as much as expected. And it could, in fact, lead to the state losing revenue over time, according to a new study.@scope (#mos-ea7c35a2-ba23-49a1-b4bb-7065674be4fc) { .we-page-content { text-align: center; margin-bottom: 32px; font-family: Arial, Helvetica, sans-serif; color: #333; } .we-page-headline { font-size: 42px; line-height: 1.1; margin-bottom: 24px; font-weight: bold; } .we-paywall-text { font-size: 18px; line-height: 1.5; color: #555; } .we-inline-barrier { --we-red: #DB3745; --we-charcoal: #323E48; --we-blue: #15BEF0; --we-slate: #85A0AB; --we-gold: #ECC270; --we-white: #ffffff; position: relative; overflow: hidden; width: 100%; max-width: 722px; /* Reduced another 15% from 850px */ margin: 14px auto; border-radius: 14px; /* Reduced another 15% from 17px */ color: #fff; font-family: Arial, Helvetica, sans-serif; background: linear-gradient(90deg, rgba(50,62,72,.99) 0%, rgba(50,62,72,.92) 43%, rgba(50,62,72,.48) 68%, rgba(50,62,72,.22) 100%), linear-gradient(0deg, rgba(50,62,72,.70), rgba(50,62,72,.08) 50%), url("https://www.conservativenewsdaily.net/breaking-news/wp-content/uploads//2026/10/localimages/Washington_Examiner_Capitol_Final.png6adb332f915a8.png") right center / 50% 100% no-repeat, var(--we-charcoal); } .we-inner { position: relative; z-index: 2; max-width: 382px; /* Reduced another 15% from 450px */ padding: clamp(20px, 2.9vw, 42px); /* Reduced another 15% */ } .we-title { margin: 0 0 20px; /* Reduced another 15% from 24px */ font-family: Constantia, "Lucida Bright", "DejaVu Serif", Georgia, "serif"; font-size: clamp(25px, 3.4vw, 46px); /* Reduced another 15% */ line-height: .98; letter-spacing: -.035em; color: white!important; } .we-title span { display: block; color: var(--we-red); } .we-deck { margin: 0 0 21px; /* Reduced another 15% from 25px */ max-width: 360px; /* Reduced another 15% from 425px */ font-size: clamp(12px, 1.2vw, 18px); /* Reduced another 15% */ line-height: 1.55; color: white!important; } .we-cta { display: inline-flex; align-items: center; justify-content: center; gap: 11px; /* Reduced another 15% from 13px */ width: min(100%, 318px); /* Reduced another 15% from 374px */ padding: 12px 17px; /* Reduced another 15% */ border-radius: 8px; /* Reduced another 15% from 10px */ background: var(--we-red); color: #fff !important; text-decoration: none; font-size: clamp(12px, 1.3vw, 19px); /* Reduced another 15% */ font-weight: 700; } .we-cta:hover, .we-cta:focus-visible { filter: brightness(.94); } .we-arrow { font-size: 1.35em; font-weight: 400; } .we-member, .we-cancel { font-size: clamp(10px, 1vw, 15px); /* Reduced another 15% from 18px */ line-height: 1.4; } .we-member { margin: 18px 0 0; /* Reduced another 15% from 21px */ color: white !important; } .we-cancel { margin: 8px 0 0; /* Reduced another 15% from 10px */ color: white !important; } .we-member a { color: var(--we-red); text-decoration: none; } @media (max-width: 820px) { .we-inline-barrier { background: linear-gradient(180deg, rgba(50,62,72,.42) 0%, rgba(50,62,72,.94) 45%, rgba(50,62,72,1) 100%), url("https://www.conservativenewsdaily.net/breaking-news/wp-content/uploads//2026/10/localimages/Washington_Examiner_Capitol_Final.png6adb332f915a8.png") top right / 100% 50% no-repeat, var(--we-charcoal); } .we-inner { max-width: none; padding-top: 35%; } .we-cta { width: 100%; } } .we-print-subscriber, .we-digital-subscriber { text-align: center; font-family: Arial, Helvetica, sans-serif; font-size: 14px; font-weight: bold; color: #333; } .we-print-subscriber { margin-top: 12px; } .we-digital-subscriber { margin-top: 6px; } .we-print-subscriber a, .we-digital-subscriber a { color: #DB3745; text-decoration: underline; } }if (typeof CSSScopeRule == 'undefined') { const style = document.getElementById('mos-ea7c35a2-ba23-49a1-b4bb-7065674be4fc-style'); if (style) { style.textContent = style.textContent.replace(/^@scope (#mos-ea7c35a2-ba23-49a1-b4bb-7065674be4fc) { /, '').replace(/}$/, '');}} Print subscriber? Click here to login/register your account Digital subscriber? Click here to login/register your account. Full midterm coverage.Deeper analysis. Get unlimited access to Washington Examiner's reporting, expert analysis, and coverage of the midterm elections. Get Unlimited Access › Cancel anytime. (window._matherq = window._matherq || []).push([ 'paywallEvent', { type: 'paywall', category: 'block', action: 'stop', wall_type: 'paywall' } ]);