In the new bill is an introduction statement that the wealth tax is “for the benefit of accumulating excessive wealth in this state,” Globe contributor Chris Micheli reported. Knowing about the huge outbound migration from California, Cavuto asked what would happen to wealthy people who move out of state. Bonta said tax “avoidance” would not be allowed as California would tax them for the next ten years, despite what state they live in. Bonta said that because they accrued the wealth in California, the state can continue to legally tax it. “Tax avoidance,” with the primary purpose of reducing the...