California sinks its billionaire tax as a Brin-backed wealth tax ban leads
THE SO WHAT
California voters rejecting a 5% billionaire wealth tax — while a wealth-tax ban leads — signals that high-net-worth founders and capital are still shaping the policy environment they operate in. If your growth plan assumes new state-level revenue from taxing the ultra-wealthy, revisit those assumptions and watch where talent and HQs migrate instead.
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