Californians vote on nation’s first wealth tax on billionaires
California voters are deciding whether to approve Proposition 40, which would impose a one-time 5 percent tax on the wealth of billionaires. If passed, California would become the first state in the nation to enact such a tax. The measure has divided Democratic Party leaders and prompted significant spending from wealthy opponents, making it one of the most expensive ballot fights in California's history.
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5 sourcesCalifornia could become the first state to tax billionaires' wealth
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Californians to decide whether to tax billionaires with Proposition 40 vote
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The story so far
3 developments- Nov 2California Is Testing the Appetite for a Wealth Tax
- Nov 3California could become the first state to tax billionaires’ wealth
- Nov 3Californians to decide whether to tax billionaires with Proposition 40 vote
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