California's “Billionaire Tax” Isn't What You Think

"If this gets on the ballot, it is an existential event for California". In the second installment of our Wipeout series, we peel back the layers of the proposed 5% Billionaire Tax to reveal what is buried in the fine print: A measure that allows Sacramento politicians to expand the tax to citizens regardless of their net worth. The panel explores the "fallout" of a policy that could force Californians to declare all assets under penalty of perjury and pay cash taxes on home equity or retirem...