Economists Make the Case For and Against California’s Billionaire Tax

We talk to two leading economists about whether the billionaire tax would help  California’s economy.

Sep 14, 2026

Updated 7:56 am PT

US Senator Bernie Sanders, Independent of Vermont, speaks during the campaign kickoff for the California Billionaire Tax Act at The Wiltern in Los Angeles, February 18, 2026. Sanders is seeking the support of California voters for a November’s ballot initiative of an emergency tax on billionaires to help the state’s healthcare system. (Patrick T. Fallon / AFP via Getty Images)