Explained: California’s billionaire tax, what Prop 40 means?
Dubai: California is still counting votes on Proposition 40, a one-time 5 per cent tax on billionaires’ wealth. With about 49 per cent votes counted as of 09:45 UAE time on November 4, the odds-were in favour of a ‘no’ which means that the proposition is likely to face a tough fight to go through. What is California's Prop 40? Prop 40 is a ballot initiative put before California voters on Nov 3,…
We haven't written up this one. Gulf News has the full story — the link below goes straight to it.
