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California Billionaire Tax Has Signatures Needed for Ballot, Backers Say (www.nytimes.com)
submitted 3 months ago by to c/nyt_gift_articles@sopuli.xyz
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The measure calls for placing a one-time 5 percent tax on the assets of California residents with at least $1.1 billion. Opponents are backing competing measures to counter the tax.

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[–] 10 points 3 months ago (1 child)

A one-time, 5% tax is stupid. That money will be gone like a tax return at Best Buy. It should be a yearly 1.5-2% tax.

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