{
  "id": 16775973,
  "title": "About 70% of tax scholars would vote against California’s billionaire tax, a new survey finds",
  "url": "https://urgent.news/2026/10/27/about-70-of-tax-scholars-would-vote-against-californias-billionaire",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-27T17:07:31.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/27/california-billionaire-tax-scholars-voting-prop-40/"
  },
  "original_language": "en",
  "account": "A new survey reveals that roughly three-quarters of tax scholars would vote against California's proposed billionaire tax, known as Proposition 40. The survey, conducted by Jeff Hoopes of the University of North Carolina's Tax Center, polled 105 members of the National Tax Association, a professional group mostly composed of academic economists, accountants, and lawyers. Of the respondents, 69.5% were opposed to the measure, while 30.5% supported it. Accountants were the most opposed, with 85% against it, while economists were slightly more opposed, with 71% against it. Law professors, who contributed to the drafting of the measure, were more divided, with 60% in favor. Hoopes explained that the opposition can be attributed to two camps: those who support wealth taxes in general but believe this specific version is flawed, and those who argue that a wealth tax is not a good idea altogether. Some respondents argued that the tax would not bring in the revenue claimed, citing potential billionaire relocation and valuation disputes. Supporters emphasized the tax's efficiency and potential to reduce concentrated wealth. Hoopes expressed concern about wealthy individuals moving to other states due to the tax, citing Norway's experience with its wealth tax. Despite the survey's limitations, it underscores the divided opinions among tax scholars on the effectiveness and feasibility of the proposed billionaire tax.",
  "summary": "Economists and accountants overwhelmingly oppose Prop. 40, while law professors lean yes, according to a UNC professor’s poll of 105 tax academics.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}