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6.13855597778866E-05 -0.000116340251388523 -0.00268927214264839 -0.000526161940952958 -0.000467699503069351 -0.000467699503069351 -0.000467699503069351 -0.000467699503069351
Stock impact report

California Gov. Newsom Pledges To Defeat Proposed Wealth Tax as Some Billionaires Eye Exit [Yahoo! Finance]

Palantir Technologies Inc. - Class A (PLTR) 
Company Research Source: Yahoo! Finance
measure because he believes it will trigger an exodus of billionaires from the state. The controversial proposal championed by the health care union Service Employees International Union-United Healthcare Workers West calls for California's wealthiest residents with a net worth of $1 billion and more to pay a one-time tax equivalent of 5% of their assets. California is home to some 200 billionaires—the most of any state— and supporters of the measure say it could generate roughly $100 billion in revenue, with 90% earmarked for health care services. But opponents of the initiative, led by longtime wealth-tax critic Newsom, argue that the likely drawbacks outweigh the benefits. In an interview with the New York Times published on Tuesday, the Democratic governor—and likely 2028 presidential candidate—said if the proposed billionaires' tax ends up on the ballot in November, he would do all he can to "protect" California from it. "This will be defeated, there's no question in my Show less Read more
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