Tech Billionaires Push Back Against Proposed Wealth Tax in California
Sergey Brin has spent $100 million opposing the measure as supporters say it could raise $100 billion for healthcare, food assistance and schools.
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Why A Vote On Taxing California’s Billionaires Is Being Watched Around The World - CleanTechnica
In November, California will vote on a proposal to levy a one-off 5% tax on the wealth of all billionaires in the state. Google co-founder and billionaire Sergey Brin has already spent US$100 million on political donations to a group opposing the tax. Brin is hoping to avoid a potential tax bill ... [continued] The post Why A Vote On Taxing California’s Billionaires Is Being Watched Around The World appeared first on CleanTechnica.
Tech billionaires push back against proposed wealth tax in California
Tech billionaires in California are fighting a proposed one-time wealth tax. A Google co-founder is leading the charge against the tax, which would generate revenue for health-care services.
Ro Khanna’s California Wealth Tax Plan Could Punish the Entrepreneurs Who Build Companies.
(ThyBlackMan.com) There’s an old saying: Those who can, do; those who can’t, teach. A similar idea underscores the debate over wealth taxes in California and elsewhere: Those who can, build companies. Those who can’t, devise ways for the government to take shares in what others have built. This new version might sound unfair until you listen to Rep. Ro Khanna’s (D-Calif.) pitch for an allegedly onetime, 5% wealth tax on California billionaires, …
The dispute over a wealth tax for super-rich people in California continues to cause unrest in Silicon Valley. With a lot of money and lobbying, billionaires are trying to decide for themselves the vote that is approaching in November.
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