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California's billionaire wealth tax heads to the ballot
Original: California’s billionaire wealth tax is on the ballot: What to know about Prop 40
California voters will decide on Proposition 40, a ballot measure that would impose a wealth tax on billionaires in the state. The proposal has drawn attention from investors, wealthy residents and policymakers, with supporters arguing it would raise revenue from ultra-rich residents and critics warning it could drive them out of California.
Why now: The measure is on an upcoming ballot and its tax implications for billionaires and the state economy are being widely debated.
Evidence
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