Art Laffer: A Wealth Tax ‘Really Would Destroy’ California If It Got Passed

EXCERPT:

LAFFER: “I think it's not going to pass, to be honest with you, but it is the single most important proposition on ballot today in America. It really is a big, big deal, this wealth tax, and it would destroy California. It really would. No one would want to go there to build their wealth, only to be faced with this type of tax. It would cause an exodus of billionaires, which have not left California because the income taxes do not affect the billionaires much at all. This tax would really affect them.”