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If 30% leave — not only failing to pay this tax, but no longer paying capital gains or income tax in CA — it will absolutely cripple the state. Especially if the departures are skewed toward the richest residents, some of whom are facing >$50 million *per year*
It's also not a very good test case for a federal wealth tax, because leaving the state is *dramatically* easier and lower commitment than leaving the country.
Is there a better test case for it? I agree it’s flawed and out of scale, but I can’t think of much short of a country. Country by country comparisons are often really weak and I don’t know how much better they would be.
This is a much worse comparison. People move between states all the time. For wealthy people who already own multiple homes, it's something that can be planned within a week. It's just not comparable. You might as well run human drug trials on fish.
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