CA's wealth tax may target percentage voting control rather than simple net worth, causing capital flight.
Better yet, target low-interest Securities-Backed Lines of Credit (SBLOCs), used to avoid paying income and capital gains taxes.
fiscalrealitycheck.substack.com/p/a-27-trill...
fiscalrealitycheck.substack.com
A $2.7 Trillion Artificial Expansion of California's Wealth Tax Base
How control-based valuation in California’s wealth tax could force founder liquidation and loss of control