Millionaire Supports California Wealth Tax Proposal
Scott Ellis, a 55-year-old Silicon Valley millionaire and member of Patriotic Millionaires, says he supports California's proposed 5% billionaire wealth tax and urges federal wealth-tax reforms in an as-told-to essay. He endorses a $30 million wealth threshold and proposes a 50% annual levy above that level, arguing excessive wealth concentrates political power and undermines democracy.
Scoring Rationale
Personal advocacy outlines specific tax proposals, but it's an individual op-ed lacking policy authority and broader empirical analysis.
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Sources
- Read OriginalI'm a millionaire living in California. I'm happy to pay higher taxes since I have more wealth — it just makes sense.businessinsider.com
