Billionaires Fund $87M Campaign to Block California Wealth Tax on Billionaires
A billionaire-backed coalition has reserved $87 million in advertising time to oppose a proposed California wealth tax. The tax would target residents whose net worth exceeds one billion dollars. To counter the measure, the coalition has placed a competing initiative on the November ballot. This tactic is designed to create voter confusion and potentially nullify the original wealth tax proposal. The conflict underscores a significant divide between Silicon Valley's elite and broader California political forces.
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