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Proposition 40 targeted Californian billionaires with a 5% tax on their total wealth, including assets such as shares as well as income.
We haven't written up this one. BBC Business has the full story — the link below goes straight to it.
Michael Bloomberg already had it all: a fortune made in media, a vast contribution to public service in New York City, and an established philanthropic legacy.
The structure could offer a fresh option for the aviation industry
Supporters said the measure would have raised over $100 billion for state funds, but opponents feared it would have sparked a wealth exodus.
Donald Trump’s envoys Jared Kushner and Steve Witkoff will press Russia to let Europe join future negotiations over the continent's security.
China's foreign trade is characterized by high export growth. In October, imports also increased significantly. The trade surplus breaks through a symbolic barrier.
