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 قناة المنار
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قناة المنار

2026-11-06T01:03:22.000Z

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Billionaire Tax Falters

Billionaire Tax Falters

The “Measure 40” initiative to impose an exceptional 5% tax on the net wealth of around 200 billionaires in California appears headed for defeat. With about 60% of the votes counted, 55.6% opposed it and 44.4% supported it. Backers estimated it would raise about $100 billion, most of which would go toward funding health care. Opponents warned it would drive wealthy residents out of the state and reduce tax revenues.

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