No. of Recommendations: 3
I'm sure you know more than half the wealth the Cali tax is targeting has already moved out, right?
That's certainly one of the operational things that get in the way of translating a concept that everyone supports ("the rich should pay their fair share") into actual policy. Taxes often create incentives for people to avoid the tax (not evade, but that too).
The govt is going to need more rev to pay the interest on 45-50 trillion in federal debt, going forward.
Sure. But that doesn't mean that they'll be able to pass any given loophole closure through Congress, much less a big package of them.
