A billionaire is one of Trump’s loudest critics. Will Democrats send him to the White House?
As the Illinois governor seeks a third term, his growing national profile has fueled speculation about a possible White House bid Send us your questions about how the Iran war will affect US voters in the midterm election When Donald Trump returned to power, 20 long months ago, some state leaders wrung their hands, worrying what explicit resistance might cost their citizens – and their careers –…
Sen. Bernie Sanders and Rep. Ro Khanna are traveling to California to rally in support of a proposed one-time 5% tax on the wealth of billionaires in the state. Early voting has begun, and millions have been spent to oppose the measure. The tax would affect around 200 of California’s billionaires, with the money going to cover federal Medi-Cal cuts.
Governor Gavin Newsom is the most prominent opponent, arguing that the tax could be evaded by billionaires who could leave the state. Khanna has challenged Newsom to a debate and proposed town halls to discuss the issue. Newsom has stated that he fundamentally disagrees with the tax proposal but supports a national billionaire tax.
Tech investors have strongly opposed the measure, with some billionaires financing the opposition effort, which has raised over $252 million. Critics argue that the tax could lead to wealthy Californians relocating and taking their wealth with them, reducing future income tax revenue.
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