Debate Over California Wealth Tax Introduction and Property Tax Structure Conflict
- 1Labor unions pushing Prop 40 stated that a wealth tax could generate 100 billion in revenue.
- 2Six billionaires left California before the proposed implementation date of the wealth tax.
- 3A top marginal tax rate of 13.3% applies to California's income tax structure.
So what's the key point?
There is a movement to introduce a wealth tax in California to generate significant revenue. Six billionaires have left the state before the implementation date.
Source Fortune · View original ↗
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