About 70% of tax scholars would vote against California’s billionaire tax, a new survey finds

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 also wrote much of the new measure: Three of its principal drafters, Brian Galle, David Gamage, and Darien Shanske, are tax-law professors. Overall, that comes out to seven out of 10 tax scholars who would........

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