California’s proposed billionaire tax is premised on a state budget crisis. Hoover Senior Fellow Joshua Rauh pushed back on that claim in his CNBC debate with UC Berkeley economist Gabriel Zucman, noting $75 billion more on the state’s balance sheet than in 2019 and arguing that last year’s reconciliation bill slows the growth of federal Medi-Cal funding rather than cutting it. Read the research on Proposition 40: https://www.hoover.org/research/net-present-value-california-billionaire-tax-act #JoshuaRauh #GabrielZucman #HooverInstitution #California #CaliforniaPolitics #CaliforniaEconomy #CaliforniaBillionaireTax #BillionaireTax #WealthTax #WealthTaxation #TaxPolicy #TaxReform #Taxation #StateTaxes #CaliforniaTaxes #TaxRevenue #GovernmentRevenue #StateRevenue #GovernmentSpending #StateSpending #PublicSpending #CaliforniaBudget #StateBudget #GeneralFund #FiscalPolicy #FiscalResponsibility #FiscalSustainability #GovernmentEfficiency #SpendingEfficiency #PublicFinance #EconomicPolicy #Economics #PublicPolicy #HooverFellows #TaxDebate
The Hoover Institution, officially The Hoover Institution on War, Revolution, and Peace, is an American public policy think tank and research institution that promotes personal and economic liberty, free enterprise, and limited government.
