Mastodawn

California ‘billionaire tax’ makes ballot despite opposition from tech moguls

> Wealth tax criticized by billionaires and Gavin Newsom would levy a one-time 5% tax on residents worth over $1bn

Wealth tax criticized by billionaires and Gavin Newsom would levy a one-time 5% tax on residents worth over $1bn

The Guardian

@dallo One time? That's just the cost doing business. Do a 5% tax once a year and that's already more tax than they've paid in their lifetimes.

@dallo Sad that the 10% flat tax never got rooted in sustainable law.

But that's Capitalism for ya!