Tuesday, 10 November 2026

News n More

Technology

California’s proposed ‘billionaire tax’ fails to pass

California voters rejected Proposition 40, the one-time 5% tax on billionaires, the AP reported Monday. Tech leaders outspent backers roughly 10 to 1 to defeat it, and the founders and economists TechCrunch interviewed before the vote were split on whether it would have driven out wealthy residents or just trimmed their fortunes.

California’s proposed ‘billionaire tax’ fails to pass

California voters rejected Proposition 40, the one-time 5% tax on billionaires, the AP reported Monday. Tech leaders outspent backers roughly 10 to 1 to defeat it, and the founders and economists TechCrunch interviewed before the vote were split on whether it would have driven out wealthy residents or just trimmed their fortunes.

Read the full story on TechCrunch

Source: TechCrunch

Join the conversation

Your email address will not be published. Required fields are marked *