Legislators in seven states have proposed higher taxes on the wealthy for 2023. Lawmakers in New York, Maryland, and Hawaii propose to strengthen estate taxes. In Connecticut, New York, Maryland, and Hawaii, there are proposals to tax realized capital gains. Still other proposals in California, Illinois, New York, and Washington would tax unrealized capital gains. The proposed wealth tax in California would target worldwide net worth in excess of $1 billion, and it would apply even to residents who move to other states. Will these taxes narrow income equality, as their sponsors assert? Will they discourage entrepreneurialism and investment? Are they constitutional? 

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Cara Griffith
President and CEO, Tax Analysts

As the moderator for our Taxing Issues webinars, Cara objectively analyzes issues and asks probing questions that challenge panelists to explain and defend their positions.

When she’s not moderating Taxing Issues webinars, Cara provides strategic oversight for Tax Analysts. She has led efforts to improve the Tax Notes suite of products and to aggressively pursue transparency in the administration of tax systems. Previously, Cara managed the editorial department, including the flagship daily news publications and weekly magazines. She has written for a broad range of tax policy publications, including Tax Notes State, The Tax Adviser, The Hedge Fund Law Report, and The Hill. She regularly speaks at tax conferences and other events, discussing a variety of technical tax issues as well as the need for transparency in tax administration.

Cara has a BA in political science and a BA in international studies from the University of Evansville and a JD from the George Washington University Law School.

Brian Galle
Professor, Georgetown Law School

Professor Brian Galle teaches courses on taxation, nonprofit organizations, and behavioral law and economics at the Georgetown University Law Center. During the 2022-2023 academic year, he is on leave while serving as a senior fellow at the SEC Division of Corporation Finance. He also serves as a research fellow in the IRS Joint Statistical Research Program and the U.C. Irvine Student Loan Law Initiative.

Before academia, he was a federal prosecutor in the criminal appeals and tax enforcement policy section of the Justice Department Tax Division, and he worked as a law clerk for Judge Robert A. Katzmann of the Second Circuit and Judge Stephen M. Orlofsky of the U.S. District Court for the District of New Jersey. He received a JD from Columbia and an LLM in taxation from Georgetown, where he was a graduate tax scholarship fellow.

In 2012 he was a signatory to an amicus brief in National Federation of Independent Business v. Sebelius, the case challenging the constitutionality of the Affordable Care Act.

Jared Walczak
Vice President of State Projects, Tax Foundation

Jared Walczak is vice president of state projects at the Tax Foundation. He is the lead researcher on the annual State Business Tax Climate Index and Location Matters, and he has authored or coauthored tax reform guides on 10 states. Jared’s work is regularly cited in The New York Times, The Wall Street Journal, The Washington Post, Los Angeles Times, Politico, AP, and many other prominent national and state outlets.

He previously served as legislative director to a member of the Virginia Senate and as policy director for a statewide campaign, and he consulted on research and policy development for a number of candidates and elected officials.

Lee Sheppard
Contributing Editor, Tax Notes

Lee is one of the nation’s most widely read and respected tax commentators. Named one of the
Global Tax 50 most influential players in international taxation in 2012 by International Tax
Review, Sheppard specializes in financial issues and the taxation of multinational corporations.
Her articles have included commentary on treaty issues, transfer pricing, European tax
developments, and cutting-edge financial issues such as derivatives, hybrid securities, and
hedge funds. Sheppard holds a law degree from the Northwestern University School of Law.