About 70% of tax scholars would vote against California’s billionaire tax, a new survey finds
Source: Fortune ·
Economists and accountants overwhelmingly oppose Prop. 40, while law professors lean yes, according to a UNC professor’s poll of 105 tax academics.
From the source
News of billionaires fleeing California over the proposed billionaire tax have dominated the headlines: the one-time tax of 5% on the wealth of California’s [perhaps dwindling] 250 billionaires. But what about those who chose to become academics, and as a result, may not have achieved billionaire status? It turns out most academics who study taxes for a living would vote against California’s proposed billionaire tax, a new survey finds. Jeff Hoopes, a professor at the University of North Carolina and research director of the UNC Tax Center, surveyed members of the National Tax Association, a professional group of mostly academic economists, accountants, and lawyers. Of the 105 respondents, 73 (69.5%) said they would vote against Proposition 40 and 32 (30.5%) said they would vote for it. Accountants were the most opposed, with 17 of 20 (85%) against the tax. Among economists, 49 of 69 (71%) opposed the tax. Meanwhile, among lawyers, nine of 15 (60%) favored the measure. Law professors…
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