Politics
California voters reject measure to tax the wealth of billionaires
Key Points
California voters have rejected a first-in-the-nation tax on the net worth of billionaires following a contentious ballot fight that generated huge spending by some prominent tech leaders eager to stop their taxes from going up. The measure would have imposed a one-time 5% tax on the wealth of Californians whose net worth exceeds $1 billion. FRANCE 24's correspondent in Los Angeles Loic Pialat has more.
California voters have rejected a first-in-the-nation tax on the net worth of billionaires following a contentious ballot fight that generated huge spending by some prominent tech leaders eager to stop their taxes from going up. The measure would have imposed a one-time 5% tax on the wealth of Californians whose net worth exceeds $1 billion. FRANCE 24's correspondent in Los Angeles Loic Pialat has more.
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Loic Pialat,France 24 Correspondent |Los Angeles,United States
Proposition 40 would have imposed a one-time 5% tax
VOTERS REJECT CALIFORNIA BILLIONAIRE TAX
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