Economists urge California to introduce a billionaire tax
Economists Abhijit Banerjee and Esther Duflo are urging California to introduce what is described as the world’s first billionaire tax. The supplied material provides no details about the proposed rate, design, legislative route or estimated revenue.
Economists Abhijit Banerjee and Esther Duflo have urged California to introduce what is described in the supplied material as the world’s first billionaire tax. The proposal is directed at the state of California and concerns a tax specifically aimed at billionaires. The material does not explain whether the proposed levy would apply to wealth, income, assets or another measure of financial holdings.
No tax rate, threshold, revenue estimate or enforcement mechanism is provided. The supplied information also does not identify the form of the economists’ appeal or say whether a bill has been introduced in California’s legislature. There is no information about the reaction of state officials, affected taxpayers, business groups or other economists.
On the available material, the confirmed development is the call by Banerjee and Duflo for California to pursue the proposed tax.
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