A Nobel Prize-winning economist explained why he's backing California's billionaire tax

Source: Business Insider

Daron Acemoglu won a Nobel Prize in 2024 for his work on wealth disparities between nations. Adrian Irago/Europa Press via Getty ImagesNobel-winning economist Daron Acemoglu explained on X why he's backing California's billionaire tax. He argued that the levy would reverse the effects of tax avoidance and could spur more tax reform.

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