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Washington Post Warns Against California's Billionaire Wealth Tax

1/2/2026

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Summary

Story summary

The Washington Post editorial board opposes California's proposed wealth tax on billionaires, warning it could drive Larry Page and Peter Thiel out of the state.
The board says California's tax system relies on the wealthy and cites a 2024 study showing revenue fell when high earners adjusted income or left.
The editorial urges voters to reject higher taxes on the wealthy.

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Story summary

The Washington Post editorial board opposes California's proposed wealth tax on billionaires, warning it could drive Larry Page and Peter Thiel out of the state.
The board says California's tax system relies on the wealthy and cites a 2024 study showing revenue fell when high earners adjusted income or left.
The editorial urges voters to reject higher taxes on the wealthy.