Tell Congress Where You Stand - Act Now
Recent research from the Hoover Institution is adding new data to the growing debate over wealth taxes – and the findings may surprise policymakers, business owners, and investors alike.
These new studies examine real-world outcomes, historical precedents, and the projected fiscal impact of California’s proposed billionaire tax.
Now Available:
- Wealth Tax Primer – A clear explanation of past wealth taxes, especially in Europe, and why many were ultimately repealed
- Net Present Value of the Billionaire Tax Act – An analysis of California’s proposed 5% tax on billionaires and its projected revenue and migration effects
- Blog Summary – A concise breakdown of the fiscal modeling and assumptions
- Op-Ed Summary – A public-facing overview of the potential economic consequences
Key Takeaways:
- Wealth taxes historically underperform revenue expectations
- High-net-worth migration can shrink the tax base
- California’s proposed billionaire tax could produce a negative net fiscal impact
- Long-term income tax losses may outweigh short-term gains
These resources provide important context as lawmakers continue discussing wealth taxes at both the state and federal levels.
Read the research and share with your colleagues to better understand the potential economic implications.
Access the full research here:
Wealth Tax Primer
https://www.hoover.org/research/wealth-tax-primer
Net Present Value of the Billionaire Tax Act
https://www.hoover.org/research/net-present-value-billionaire-tax-act-assessment-fiscal-effects-californias-proposed
Blog Summary
https://libertylensecon.substack.com/p/california-wealth-tax-npv
Op-Ed Summary
https://nypost.com/2026/03/16/opinion/california-could-lose-money-thru-billionaire-tax/
Stay informed. Share the research. Join the conversation.
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The need for fact-based reporting of issues important to family offices and successful families and protecting a lifetime of savings has never been greater. Now more than ever, family offices and successful families are under fire. That’s why Family Enterprise USA Action is passionately working to increase the awareness of issues important to family offices and successful families, while continuing to strengthen our presence on Capitol Hill.
Family Enterprise USA Action engages with legislators on Capitol Hill on behalf of family offices, successful families, and family-owned businesses. It is focused exclusively on the critical tax and economic policies that impact them. Since 1995, FEUSA Action has been the leading advocacy group working daily in Washington, D.C., to reduce and eliminate estate tax, gift tax, and generation skipping transfer tax while blocking increased income and capital gains taxes, the creation of a wealth tax, and other hostile policies that punish hardworking taxpayers and success in the U.S. It is a bipartisan 501.c4 organization.
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