Stockreport
‘You are really playing with fire with this one': California billionaires tax ignites, pitting labor unions and voters against tech execs By MIchael R. Blood , Michael Liedtke and The Asso...
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Gavin Newsom maneuvers to defeat a levy that he fears will lead to an exodus of wealth. Recommended Video A technology mecca, California has more billionaires than any other state — a few hundred, by some estimates. Nearly half its personal income tax revenue, a financial backbone in the nearly $350 billion budget, comes from the top 1% of earners. A large health care union is attempting to place a proposal before voters in November that would impose a one-time 5% tax on the assets of billionaires — including stocks, art, businesses, collectibles and intellectual property — to backfill federal funding cuts to health services for lower-income people that were signed by President Donald Trump last year. In a state with a vast gap between rich and poor, the plan has resulted in a tangle of competing interests at a time when both Democrats and Republicans are struggling to respond to economic anxiety driven by rising costs ahead of this year's midterm elections. An online war of
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