#billionaire-tax
#billionaire-tax
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#california-politics #wealth-inequality #wealth-tax #gavin-newsom #seiu-uhw #california #silicon-valley
California
fromLos Angeles Times
4 days agoAmid rising costs, California and L.A. initiatives aim to tax the ultra-rich
California is moving to tax billionaires amid surging billionaire wealth and severe housing unaffordability, sparking concerns that wealthy residents and companies might leave if taxes rise.
fromBusiness Insider
6 days agoGoogle cofounder Larry Page continues his exit from California-this time spending $170 million on Florida properties
California has proposed the Billionaire Tax Act, which would impose a one-time 5% tax on residents worth over $1 billion. Page, whose net worth is $269 billion as of January according to Forbes, isn't giving California the option to tax him and is deserting the Golden State for a state on the opposite extreme of taxing the wealthy: Florida. The proposed bill, which doesn't appear on the ballot until November, would retroactively tax billionaires living in California as of January 1.
Real estate
California
fromBusiness Insider
3 weeks agoRead the letter celebrity lawyer Alex Spiro wrote to Gavin Newsom, warning that his clients will 'permanently relocate' if California's wealth tax passes
California's proposed billionaire tax would impose a one‑time 5% levy on residents with over $1 billion, prompting wealthy individuals to threaten relocation and capital flight.
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