California is considering a “wealth tax,” a concept that has failed everywhere it has ever been attempted.California is one of the world’s top economies, competing with Germany and Japan with a GDP of around $4 trillion – far more than almost all other countries.California’s innovation-driven economy fuels this dramatic wealth and prosperity, as many big tech firms, including Apple, Google, and Meta, call the state home.California is also a high-tax state, as it adds 13.3% income tax on higher-income reside ...