California’s proposed ‘billionaire tax’ fails to pass
· techcrunch.com · popularity 34/100 · 0 similar stories today · Wealth, Power & Society (Society, Rights & Work)
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Summary
California voters rejected Proposition 40, the one-time 5% tax on billionaires, the AP reported Monday. Tech leaders outspent backers roughly 10 to 1 to defeat it, and the founders and economists TechCrunch interviewed before the vote were split on whether it would have driven out wealthy residents or just trimmed their fortunes.
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