California’s War on Wealth—and America’s War on Terror

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The rubber meets the road in California this fall when a proposed one-time 5% tax on the state’s billionaire class – wealth taxes being a longtime progressive hobby horse – faces a public vote in the form of Proposition 40. Joshua Rauh, the Hoover Institution’s George P. Shultz Senior Fellow in economics and author of a data analysis of Prop 40’s fiscal and economic impacts, explains why the measure would be a “disaster” if enacted and whether the policy battle marks the beginning of more public engagement on the part of the wealthiest Californians or instead will speed up their exodus from the Golden State. After that: the fellows reflect on the 25th anniversary of the 9/11 attacks on…