re: Plan on escaping california? They'll tax you for that

I'm actually not shocked that this kind of taxation is being proposed.

For the people who think wealth disparities are a big problem the logical solution would be taxation on the total value of personal assets. The proposals I've seen before typically have a graduated taxation rate with higher percentages owed by people worth 100 million, 1 billion, etc in total assets.

If you set aside the question of whether it would be nice if people worth many millions or billions of dollars paid more taxes as a percentage of their worth (something we all functionally already do with property taxes)... The other question that has to be answered is if the law is possible to enforce efficiently.

I think the answer to that is probably no. These taxes are intended to target the mega wealthy but those individuals have more ability to adjust their behaviors to avoid taxation than other people. People like this can leave the state or the country. They can move assets into cryptocurrencies or other assets that are difficult to track, they can move assets into companies or institutions they control but don't legally own, and they can pull the strings of government to block, modify, or reverse legislation they dislike.