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Tech

California’s proposed ‘billionaire tax’ fails to pass

By Lucas Ropek 0 views 0 comments
California’s proposed ‘billionaire tax’ fails to pass
Image: TechCrunch

California voters rejected Proposition 40, the one-time 5% tax on billionaires, the AP reported Monday. Tech leaders outspent backers roughly 10 to 1 to defeat it, and the founders and economists TechCrunch interviewed before the vote were split on whether it would have driven out wealthy residents or just trimmed their fortunes.

TechCrunch Original story · techcrunch.com
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