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California's Billionaire Tax Heads to Vote | Los Angeles News
California voters will decide on Proposition 40, the California Billionaire Tax Act, this November. If approved, it would impose a one-time five percent tax on individuals with over one billion dollars in assets, potentially raising around one hundred billion dollars. The majority of this revenue is intended for public health care, while a smaller portion would support education and food assistance. However, some Democratic leaders express concerns that it might deter wealthy residents and www.TheDailyNewsNow.com This is an automated, high-level news summary based on public reporting and…
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