Here's the potential impact a proposed CA billionaire tax could have on Silicon Valley

""no question""

""I'll do what I have to do to protect the state,""

""The bigger hit to California's economy is if we can't cover that sharp spike in health care costs. That's what's going to stop the next generation of startups,""

""perfectly fine with it,""

California may see a proposed one-time 5% tax on billionaires' net worth, supported by the SEIU and seeking signature qualification for the November ballot. Governor Gavin Newsom strongly opposes the measure, predicting defeat and saying he will act to protect the state and its concentration of billionaires. Supporters argue the tax could help offset the state's budget deficit and rising health care costs, which they say threaten the next generation of startups. Some tech leaders warn the measure could drive wealthy innovators and entrepreneurs out of California, while others, like NVIDIA CEO Jensen Huang, say they are fine with it and will stay.

Read at ABC7 San Francisco