Galt's Gulch Goes South
Billionaires leaving California, other blue states over tax threats California's proposed billionaire wealth tax, Washington's new millionaire levy, and New York's mounting fiscal siege are accelerating the largest voluntary relocation of capital and talent in American peacetime history — with Florida and Texas the clear winners. Special Report March 22, 2026 · San Diego, CA Progressive lawmakers across California, Washington state, and New York City are simultaneously advancing wealth taxes, millionaire surcharges, and retroactive levies on high-net-worth individuals — generating a documented and measurable exodus of billionaires, entrepreneurs, and capital to zero-income-tax havens, primarily Florida and Texas. The legal viability of California's proposed retroactive wealth tax is deeply uncertain under multiple federal constitutional doctrines. Academic research on tax-induced migration presents a genuinely mixed pictu...