Sacramento created California’s budget problem — billionaire tax won’t fix it
Bogdan Hofbauer
Proponents of California’s proposed Billionaire Tax Act have a story to tell: President Donald Trump and the Washington Republicans cut health care, and so the “billionaire tax” is the necessary response. Then there’s the reality, which we describe in a new paper from the Hoover Institution. Our analysis looks at what Trump’s “One Big, Beautiful Bill” actually does to Medi-Cal, and whether the proposed first-in-the-nation wealth tax would address it. Spoiler alert: The answer to the
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