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Prop. 40: Will California voters approve the billionaire tax?

Prop. 40: Will California voters approve the billionaire tax?
Photo: NBC Los Angeles (KNBC) · view original

California voters will decide in November whether to pass Proposition 40, the so-called California Billionaire Tax Act, which would impose a one-time tax on the state’s wealthiest residents. What’s Prop 40? If Prop. 40 passes, individuals or couples whose net worth exceeds $1 billion as of Dec. 3...

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