Lee Ohanian
Lee Ohanian is a senior fellow at the Hoover Institution and a UCLA professor of economics who directs the Ettinger Family Program in Macroeconomic Research. His public work focuses on macroeconomics, economic growth, public policy, budgets, taxation, and California economic policy.
California Wealth-Tax Deal Nears Deadline as Unions Split Over Revenue
In a Hoover Institution California update, Bill Whalen and Lee Ohanian argue that the state’s politics are being shaped by institutional strain more than any single scandal. They say the federal investigation of Gavin Newsom and Jennifer Siebel Newsom could help Newsom cast himself as a Trump target in a Democratic presidential race, while exposing family finances and behested payments to deeper scrutiny. They also frame California’s election rules, Xavier Becerra’s likely succession, and a possible deal to avert a billionaire wealth-tax ballot fight as evidence of a system increasingly governed by distrust, weak execution, and interest-group bargaining.
California’s Revenue Windfall Masks a Narrow and Mobile Tax Base
In a Hoover Institution California update, Bill Whalen and Lee Ohanian argue that the state’s newly balanced budget reflects another capital-gains windfall rather than a sounder fiscal model. They say California remains dependent on a narrow group of high-income, mobile taxpayers, with AI and possible IPOs offering more revenue upside while reinforcing the same volatility. The discussion extends that critique into state and Los Angeles politics, where they see unsettled Democratic fields and Spencer Pratt’s mayoral bid as symptoms of frustration with incumbent governance.