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BILLIONAIRE TAX BACKFIRE: California's Prop 40 Could Raise FAR LESS Than $100 Billion As Wealthy Flee Before Midterms
Next News Network
— November 03, 2026 at 11:45 AM UTC
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Proposition 40's one-time 5% wealth tax on California billionaires faces a November 3 vote as prominent billionaires relocate out of state, with Stanford economists warning the measure could permanently shrink the state's tax base.
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Originally reported by
Next News Network
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