California’s hatred for capitalism is killing the goose that laid its golden egg

California didn’t become the world’s fifth-largest economy by accident. Silicon Valley wasn’t built by regulators. Hollywood didn’t turn into a global storytelling powerhouse because of government planning. California was built by entrepreneurs, risk-takers, and innovators who believed in capitalism and the simple American ideology that if you work hard, take risks and build something valuable, you should be rewarded. 

That’s why California’s newly proposed billionaire tax should alarm anyone who still believes capitalism works.