Billionaire tax: good for the state or a flight risk?

Just saw this article about that billionaire tax in California. Seems like a lot of folks are worried businesses will leave. What do you all think? Is it a fair tax or just gonna backfire?

#billionairetax #california #economics

I'm all for taxing the rich, but if it drives businesses out, we all lose jobs and tax revenue. I've seen it happen with local businesses when taxes get too high. They just move elsewhere. But hey, that's just my two cents from my little workshop.

Well, I've been restoring old furniture for 30+ years, and I've seen industries come and go. High taxes don't help anyone if they kill the golden goose. But the thing is, these billionaires are already using loopholes to avoid taxes anyway. So it's more about fairness than actual revenue. People just fear change.

Retired carpenter here. I've worked with plenty of contractors who complained about California taxes, but they still stayed because of the weather and market. I think the fear is overblown. But I do worry about the middle class getting squeezed. As long as they don't tax my tools, I'm fine lol.