New Wealth Tax Could Be California’s Nuttiest Idea Yet

Commentary It’s getting much unsafe to marque wealth and make jobs successful California. Under Assembly Bill 259, by Assemblyman Alex Lee (D-San Jose) the authorities would “impose an yearly taxation astatine a complaint of 1.5 percent of a nonmigratory of this state’s worldwide nett worth” successful excess of $1 cardinal starting successful 2024. Starting successful 2026, the threshold would driblet to conscionable $50 cardinal of worth, taxed as...