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🦋bluesky first seen 4 d ago, last 1 h ago, peak #2

California weighs tax on billionaires' wealth

Original: California weighs billionaire wealth tax

California lawmakers are considering a billionaire wealth tax that would levy the state's ultra-rich on their net worth rather than income. Supporters argue it would make the state's wealthiest residents pay a fairer share and fund public services, while critics warn it could push billionaires and their capital out of California. Debate is intensifying as the proposal moves through the state legislature.

Why now: A proposal to tax billionaires' wealth directly is a contentious and closely watched policy fight in the largest US state.

CaliforniaCalifornia State Legislature

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