Are California voters about to impose 'world's first' tax on billionaires?
Source: BBC ·
Voters are about to decide if the mega-rich among them should hand over billions of dollars to pay for improvements to healthcare.
From the source
Few places on the planet have as many ultra-wealthy residents as California, a US state known for glamour, coastal mega-mansions, and being home to the rich and famous. Now voters are about to decide whether the mega-rich among them - including media mogul Oprah Winfrey, Meta head Mark Zuckerberg, Skims cofounder and reality television star Kim Kardashian, and filmmaker George Lucas - should hand over billions of dollars to pay for improvements to healthcare. Proposition 40 is aimed at levying a one-time 5% tax on the net worth of all of California's billionaires. There are a little more than 200 such individuals in the state - but that hasn't stopped the measure from dividing leaders and causing some of its ultra-wealthy residents to flee. One billionaire businessman says he's brought jobs to California, but the proposition made him feel "a little bit like I wasn't wanted". What are the US midterms? A simple guide But the vote is also offering regular residents a voice on an issue…