California entrepreneur warns billionaire wealth tax could trigger 'giant sucking sound' of business exits
6 Articles
6 Articles
Businessman warns that a tax on billionaires could lead to departures from California and affect jobs, investments and tax revenues
‘I’m out’: California wealth tax sparks stark business warning from entrepreneurs
California entrepreneur Eric Schiffer warns the state’s proposed billionaire wealth tax could spark a ‘giant sucking sound’ of business leaders fleeing. Proposition 40, on the Nov. 3 ballot, would hit billionaires with a 5% net worth tax, potentially costing California jobs and revenue. The state’s nonpartisan Legislative Analyst’s Office admits some billionaires may flee, cutting California’s income tax revenue by up to $1 billion.
Fox Business
California entrepreneur warns billionaire wealth tax could trigger 'giant sucking sound' of business exits
California's proposed wealth tax could trigger a "giant sucking sound" of billionaires fleeing the state, entrepreneur Eric Schiffer warns in a stark prediction.
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