This shouldn’t pass. It would be a disaster for California.
As California Gov. Gavin Newsom, who opposes the proposal, said:
“Wealth is movable, and it shops for the state with the lowest taxes. The fight belongs at the federal level, where this broken system was created in the first place.
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JUST IN: Bernie Sanders calls California’s proposed 5% billionaire wealth tax the “most important ballot measure in America.”
28% chance it passes.