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Billionaires Battle California's Wealth Tax | US News
California’s billionaire tech elite are unleashing a $118 million war chest to kill a proposed one-time 5% wealth tax targeting the ultra-rich — aimed at funding Medi-Cal, schools, and food aid — as voters head to the ballot this November. Google’s Sergey Brin leads the charge with $82 million, joined by John Doerr, Michael Moritz, and Stripe’s Patrick Collison, while opposition funds are split across multiple PACs. Meanwhile, supporters like SEIU have raised $31 million, arguing the tax could rescue state budgets from looming federal cuts — even as critics warn it might trigger a brain drain…
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