Nobel economists throw support behind California billionaire tax
Progressive laureates say November ballot measure could ‘start reining in the power’ of ultra-wealthy
Mitt Romney had warned five years ago about a potential billionaire tax that could prompt the ultra-wealthy to diversify their holdings. On November 3, California voters will decide on Proposition 40 (1), a ballot measure that would impose a one-time tax of 5% on a billionaire's net worth. The tax would apply to billionaires who were California residents on January 1, 2026, with payments due in 2027.
Jeff Bezos has shown support for platforms that allow anyone to invest in rental properties for as little as $100. A single line on car insurance can sometimes inflate premiums by up to 30%. A record 45% of central banks plan to increase their gold reserves, attracting many investors to the precious metal.
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