Money manager Brian Heywood said he left California for the Seattle area more than a decade ago partly to escape taxes. Now, he fears his current income-tax-free home is headed in California’s direction after introducing levies on capital gains.
“The capital gains tax to me is the camel’s nose under the tent,” said Heywood, the founder of Taiyo Pacific Partners, which oversees $2.4 billion of assets mostly in Japan and India. He worries the levy is “the gateway to get an income tax.”
Heywood has already spent almost $7 million of his own money to get six ballot initiatives in ...
