Wealthy Spend Millions Daily Opposing Billionaire Tax

Tech billionaires are spending over $340 million to oppose California’s proposed Proposition 40, a one-time 5% wealth tax aimed at funding healthcare and education. The opposition campaign is spending more than $1 million daily to sway voters, who will decide on the measure in early November. The initiative has divided Democrats and faces significant campaign opposition from Silicon Valley elites and their associated PACs.

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