California’s plan to slap a 5% wealth tax on billionaires sounds bold, but history says it’s likely to flop. Even if Peter Thiel and Larry Page threaten to leave, the real issue is that wealth taxes rarely deliver—most rich folks just move their money around to dodge them. Countries like France and Sweden tried similar taxes and ended up scrapping them because they barely raised any money and sometimes drove the wealthy away. Instead, boosting income and capital gains taxes could actually make a difference. What do you think: Is it time to rethink how we tax the ultra-rich? #Business #MakeMoney #California