Larry Page Reportedly Weighing Exit From California Over Proposed Wealth Tax
Ahead of a vote on Proposition 40, a proposed one-time 5% tax on billionaires' wealth in California, Google co-founder Larry Page is reportedly considering relocating out of the state. Such departures could undermine the measure's projected $100 billion in revenue. Estimates indicate that if other wealthy residents also leave, the state could face a shortfall of around $29 billion in tax income. The report frames the potential exodus as a way for affluent individuals to avoid the levy.
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