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Tech billionaires threaten to flee California over proposed 5% wealth tax
The 2026 Billionaire Tax Act would fund healthcare by taxing assets over $1 billion, but critics warn it may push tech founders and investors to relocate.
Summary by Fox 11 LA
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Tech Elites Plot To Primary Populist Democrat Who Called For Wealth Tax
Silicon Valley tech moguls are threatening to primary Democratic California Rep. Ro Khanna following his support for a proposal to tax the Golden State's wealthiest residents.
·Washington, United States
Read Full ArticleCalifornia’s billionaire tax proposal draws backlash from crypto proponents
Many crypto industry proponents have criticized a proposed 5% tax on California billionaires, saying it would push wealth out of the state while doing little to fix the problems in the healthcare system it is designed to fund. Introduced by…
Coverage Details
Total News Sources8
Leaning Left0Leaning Right3Center2Last UpdatedBias Distribution60% Right
Bias Distribution
- 60% of the sources lean Right
60% Right
C 40%
R 60%
Factuality
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