California Wealth Tax

This sure to fail garbage none the less does a lot of harm: Every time something like this is proposed people that suspect they'll be harmed by it waste time looking at it and are slightly more likely to move out of California (or to opt to not move to California). Yet because it won't pass whatever benefits it was supposed to have won't be delivered on either.

There is a lot of real costs to these bills too-- the effort that goes into drafting them, lobbying for or against them, people spending time reading them and paying professionals to analyze the impact, etc.

Apologize to California hackers, but I kinda want to see this bill pass. The unintended but obvious consequences and all the associated second and third order effects will get it repealed before too long, but maybe it will bring an end to this bright idea once and for all so we can focus on solutions that will actually work.

Another article with more context: https://www.politico.com/newsletters/california-playbook/202...