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California's Billionaire Tax Defeated

Original: The Taxpayers Strike Back: California’s ‘Billionaire’ Tax Defeated

A proposed wealth tax targeting billionaires in California has been defeated, a move celebrated by taxpayer advocacy groups including Americans for Tax Reform. Supporters of the defeat frame it as taxpayers pushing back against what they call punitive taxation of wealth, while the outcome spares the state's wealthiest residents from new levies. The rejection marks a notable setback for wealth-tax proponents in one of America's most progressive states.

Why now: The defeat of a high-profile billionaire tax is drawing attention from both tax policy advocates and critics of wealth taxes.

CaliforniaAmericans for Tax Reform

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• The Taxpayers Strike Back: California’s ‘Billionaire’ Tax Defeated · Americans for Tax Reform

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