It Failed in France. It Would Be a Disaster in California.

California is considering a wealth tax aimed at billionaires, but the idea has already faced backlash as some affluent individuals are leaving the state. The proposed tax mirrors a failed initiative in France, raising concerns about its potential impact on the state's economy. This move could affect not only the wealth of high earners but also the broader economic landscape, potentially deterring future investment and innovation. For California, it’s a high-stakes decision that could redefine its fiscal future.