Uploaded June 2026 | Updated September 2026, 3 weeks ago

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A billionaire wealth tax, proposed as a straightforward, one-time solution to raise revenue actually points to a sharp drop in tax revenue, a shrinking tax base, fewer jobs, and stagnant economic growth.

Learn more from Joshua D. Rauh:
- Read "The Net Present Value of the Billionaire Tax Act: An Assessment of the Fiscal Effects of California's Proposed Wealth Tax" by Joshua Rauh here: hoover.org/research/net-present-value-billionaire-tax-act-assessment-fiscal-effects-californias-proposed?utm_source=youtube&utm_medium=description&utm_campaign=policystories_youtube&utm_content=06252026
- Read "Sacramento created California’s budget problem — billionaire tax won’t fix it" by Joshua Rauh here: nypost.com/2026/05/31/opinion/sacramento-dug-budget-hole-billionaire-tax-wont-fix-it
- Read "Medi-Cal and One Big Beautiful Bill: Federal Medicaid Reforms and the Fiscal Premise of California's Billionaire Tax Act" by Joshua Rauh here: papers.ssrn.com/sol3/papers.cfm?abstract_id=6833362

Learn more about Joshua D. Rauh here: hoover.org/profiles/joshua-d-rauh?utm_source=youtube&utm_medium=description&utm_campaign=policystories_youtube&utm_content=06252026

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