California wealth tax fight heats up as billionaire-backed group pours $5 million into campaign

Why all eyes are on California’s billionaire wealth tax bill

The coming election will serve as an important test of the political power of the billionaire class, and the broader health of American democracy.

Billionaire-Backed Groups Launch Ad Blitz Against California Wealth Tax

Google co-founder Sergey Brin and venture capitalist Peter Thiel are among the billionaires bankrolling ads against a proposed one-time tax on the wealthiest Californians.

Anti-billionaire tax ad falsely claims every Californian will have to “report all their assets”

In November, California voters will consider a one-time 5% tax on the assets of a few hundred of the state’s billionaires. The initiative, should it pass, is expected to generate tens of billions of dollars for health care and education programs.Opponents of the measure have a big problem: taxing billionaires is quite popular.A new ad being run extensively on Meta platforms navigates around this issue by claiming it is not a “billionaire tax” bu…

California wealth tax fight heats up as billionaire-backed group pours $5 million into campaign

Building a Better California, an advocacy group backed by some of Silicon Valley's wealthiest figures, has poured $5 million into the campaign opposing Proposition 40, intensifying a fight over how the state should fund healthcare and other essential services, according to the Los Angeles Times. Here's what to know On Nov. 3, California voters will decide whether to impose a one-time 5% tax on the assets of state billionaires to support food ass…

Why a vote on taxing California’s billionaires is being watched around the world

Why a vote on taxing California’s billionaires is being watched around the world US independent senator Bernie Sanders at the launch of the campaign for