An economist behind the Prop 40 California wealth tax

California is voting on a historic measure to tax billionaires. The idea of a one-time 5% wealth tax is putting Silicon Valley on edge. Emmanuel Saez, one of the economists who helped design Proposition 40, joins host Carmel Crimmins to discuss the economics of taxing large fortunes. Can wealth taxes raise meaningful revenue without driving away investment, entrepreneurship and talent?

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