Nobel Economists Back California Ballot Measure to Tax Billionaires

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A group of Nobel Prize-winning economists has signed an open letter expressing support for a proposed California ballot measure targeting billionaire wealth. The initiative, known as Proposition 40, would impose a tax on the state's wealthiest residents. The letter was made public via a PDF document associated with economist Gabriel Zucman, a prominent advocate for wealth taxation. Supporters argue the measure could help address wealth inequality and generate significant public revenue. The proposal is part of a broader national debate over how to tax extreme concentrations of wealth.

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