California Gov. Gavin Newsom has endorsed Proposition 42, a ballot measure that could block key parts of a separate proposal seeking a one-time tax on the state’s billionaires.
"It was funded and placed on the ballot by billionaire and Google co-founder Sergey Brin to defeat the billionaire tax, and would go further, by banning any new taxes on personal property. It also would prohibit retroactive taxes like the one-time 5% tax on assets already held." - seems like a decent summary. If the argument is that it's opposition on it being "California only, and people would go elsewhere"...Good. Let them go, they just can't take their money with them.
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