Billionaires are making empty threats to leave California if they’re asked to hoard slightly less
There’s a proposal making the rounds in California to levy a 5 percent wealth tax on anyone worth more than $1 billion. The proposal isn’t guaranteed to make it to the ballot next year. Just like when Zohran Mamdani was elected mayor of New York, lots of the ultra-wealthy are having a hissy fit. But it seems highly unlikely that Larry Page is going to take his $258 billion (more than the GDP of most countries) and l…
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