California's proposed billionaire tax says it will raise $100 billion for healthcare, food assistance, and education. New research from Stanford's Hoover Institution puts the real number closer to $40 billion — and argues the measure could leave the state worse off once billionaire departures are factored in.
This week, Phil talks with Hoover Institution research fellow Benjamin Robert Jaros, co-author of that research, about the mechanics of Proposition 40, the migration numbers driving the disagreement, and what it means for California voters this November.
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