California Voters Approve Prop 42 Ban on New Personal Asset Taxes

California Voters Approve Prop 42 Ban on New Personal Asset Taxes

Internewscast Internewscast California voters dealt a significant setback to wealth-tax supporters, rejecting a proposed… This Post: California Voters Approve Prop 42 Ban on New Personal Asset Taxes first appeared on Internewscast

California voters deal crushing blow to tax grabs after striking down wealth levy

California voters have approved Proposition 42, blocking new taxes on 401(k) accounts, digital assets, and personal property while defeating a billionaire wealth tax.

California Voters Pass Ban On Wealth Taxes

“California voters had a chance to impose the nation’s first-ever tax on billionaires’ assets. Instead, they voted to ban wealth taxes altogether,” the Wall Street Journal reports. “A ballot initiative to prohibit new state taxes on personal property is set to pass, the Associated Press said late Friday. Known as Proposition 42, the measure was […]

Voters pass Proposition 42, barring new taxes on personal assets

The measure had just over 51% votes in favor and nearly 49% opposed, with about 96% of votes counted.