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Nobel laureates say California billionaire tax will spark wider movement
Original: California’s billionaire tax will ‘kickstart a movement’ that spreads to more states, the federal government and other countries, Nobel laureates say
A group of Nobel laureates predicts that California's proposed tax on billionaires will 'kickstart a movement', spreading to other US states, the federal government and eventually other countries. They point to the explosive growth of the state's billionaire class in recent decades, which has made California one of the most unequal places in America, as evidence that such a levy is needed.
Why now: California's billionaire tax proposal is advancing, and prominent economists backing it has reignited debate over wealth taxation.
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Evidence
- California’s billionaire tax will ‘kickstart a movement’ that spreads to more states, the federal government and other countries, Nobel laureates say · Fortune
"The explosive growth of the state’s billionaires over the past few decades has made it one of the most unequal places in America."
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