Billionaires Fund Tax Fight
California billionaires including Sergey Brin are pouring $80M+ into defeating a proposed 5% wealth tax on assets above $1B, with $45M from Brin alone. The tax aims to raise ~$100B to offset federal Medicaid cuts as competing ballot campaigns drive signature collection costs to a record $15 per valid signature.
As featured on
It’s happening. California looks likely to put a “one-time” tax of 5% on wealth above $1 billion on the ballot in November, and polls suggest it could pass — despite opposition from some economists (not so surprising) and Democratic politicians (more so).
