🦋bluesky first seen 6 d ago, last 20 h ago, peak #2
California Weighs Billionaire Wealth Tax
California lawmakers are considering a tax on the wealth of the state's billionaires, which would target unrealised gains rather than income. The proposal has drawn support from progressives who argue the ultra-rich pay too little, while business groups and wealthy residents warn it could push billionaires and their companies out of the state. Debate centres on feasibility, legal challenges and whether other states might follow California's lead.
Why now: A wealth tax proposal from the largest US state is drawing national attention amid ongoing debates over taxing the ultra-rich.
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