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California puts first US billionaire tax to the vote
California is moving toward the first billionaire tax in the United States, with a proposed levy on the state's wealthiest residents put before voters. The measure would target ultra-high net worth individuals and has reignited debate over wealth inequality, tax policy and whether other states might follow California's lead.
Why now: A first-of-its-kind billionaire tax in the largest US state has major implications for wealth policy nationwide
Evidence
- California puts first US billionaire tax to the vote · Yahoo Finance UK
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