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Nobel laureates say California billionaire tax could spread globally
Original: California’s billionaire tax will ‘kickstart a movement’ that spreads to more states, the federal government and other countries, Nobel laureates say
California's proposed tax on billionaires is drawing attention from Nobel laureates, who argue it could trigger a broader movement across other US states, the federal government and other countries. Supporters point to the explosive growth of the state's billionaire class in recent decades, which has made California one of the most unequal places in America. Critics and supporters alike are watching to see whether the measure becomes a template for wealth taxation elsewhere.
Why now: The proposed tax is being framed as a potential precedent for wealth taxes nationwide and internationally, sparking debate about inequality.
CaliforniaNobel laureatesFortune
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Evidence
- California’s billionaire tax will ‘kickstart a movement’ that spreads to more states, the federal government and other countries, Nobel laureates say · Fortune
"The explosive growth of the state’s billionaires over the past few decades has made it one of the most unequal places in America."
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