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Hunting the billionaires risks killing Silicon Valley

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California’s proposed “billionaire tax” will be collected by the Franchise Tax Board if it passes in November. But it should really be run by the US Fish and Wildlife Service, because it looks like a hunting license — targeting the billionaires who have left the state.

The California Post reported Wednesday that the state intends to go after wealthy taxpayers who left the state to avoid the possibility of having to give up 5% of their wealth.

Three wealthy individuals in particular are thought to be in the state’s crosshairs: White House adviser David Sacks, Uber co-founder Travis Kalanick, and Google co-founder Sergey Brin.

All are great innovators. All three left California, as they stand to lose potentially hundreds of millions of dollars. Yet all could face deep audits by the state to determine whether they can somehow be declared California residents.

You can be sure that the state taxman will find any excuse to declare these individuals to be California residents. Cash-hungry........

© New York Post