Professor John Logan shared his thoughts in an ABC7 News story on a billionaire tax proposal

Professor John Logan shared his thoughts in an ABC7 News story on a proposal to tax billionaires. A one-time 5 percent emergency tax could help close the gap caused by federal health care cuts. According to Renee Saldaña, a spokesperson for SEIU United Healthcare Workers West, “Right now, a massive $100 billion cut is going to hit California’s health care system when we roll into 2026.” The emergency billionaire tax would help prevent a statewide health care collapse.

Already backed by U.S. Senator Bernie Sanders, the proposal will appear on the statewide ballot in November if it receives enough signatures. However, several tech billionaires have hinted that they may leave the Golden State if the proposed wealth tax goes through. Despite these threats, Professor Logan believes that only a small number of billionaires would actually leave. “Most tech billionaires - who could easily afford to pay this 5-percent one-off tax - are not going to upend their lives, move to Austin, Texas, move to Florida, or move to other parts of the country, given all the advantages they enjoy,” said Logan.

Read the full news story:  December 31, 2025, ABC7 News, Tech moguls threaten to leave CA as billionaire tax proposal gains support among unions