California’s 5% wealth tax gamble triggers capital flight, including Mark Zuckerberg. What it means for investors

What we drew from this source

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• Wealth tax risks accelerating exodus of high earners and capital, weakening state's tax base and broader economy

  80% confidence

• States with lower individual income taxes tend to gain residents and tax filers, while higher-tax states tend to experience net losses

  80% confidence

• California already has the highest top marginal income tax rate in the country at 13.3%

  80% confidence

• Wealth tax could generate billions of dollars to fund healthcare, education and other public services

  80% confidence

• There is a correlation between tax competitiveness and net migration flows

  80% confidence

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