US EditionLetters to the Editor: The entire premise of California’s proposed one-time wealth tax is misleading
The proposed 5% retroactive tax on about 200–250 billionaires could raise $100 billion, nearly 30% of California's budget, payable over five years, supporters say.
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6 Articles
Sergey Brin and the who's who of tech donated millions ahead of California's wealth tax vote
Max Levchin, Sergey Brin, Eric Schmidt, and other billionaires dumped millions in donations ahead of California's wealth tax.Kevin Dietsch/Getty Images, Evan Agostini/Invision/AP, Yoan Valat, Pool via APThe who's who of California's billionaires are pouring millions into state campaigns.Sergey Brin, Max Levchin, Eric Schmidt, and others donated $35 million to support housing reform.The donations come ahead of a contentious billionaire wealth tax…
California's Tax On Billionaires May Work -- But There's A Better Solution
A coalition of unions and other progressive groups is trying to get an initiative on California’s ballot this fall which would impose a five percent tax on the wealth of the 200-250 billionaires living in the state. The tax would be retroactive, so it applies to billionaires who lived in the state as of January 1 of this year. The supporters estimate that it could raise $100 billion, almost 30 percent of the state’s annual budget, although the t…
Letters to the Editor: The entire premise of California’s proposed one-time wealth tax is misleading
'Any "tax expert" with common sense is well aware that many — perhaps a significant majority — of the targets of the tax will contest it (and aggressively discount their assets in self-assessing their tax),' writes an L.A. Times reader.
Google Cofounder Seeds Billionaire Political Effort Amid Wealth Tax Debate
SACRAMENTO, Calif. -- Sergey Brin, a Google cofounder and one of the wealthiest people in the world, is donating $20 million to a new California political drive weeks after he took steps to leave the state to avoid a possible…
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