Billionaire tax proposal sparks soul-searching for Californians
A proposed one-time tax on California billionaires polarizes politics, pits wealth redistribution against economic concerns, and seeks funds for healthcare amid revenue volatility.
Read 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.