California is considering a one-time, 5% tax on billionaires to fund healthcare shortfalls tied to major federal cuts. Opponents say it will prompt the uber-rich to leave, while supporters argue states can’t afford not to tax wealth that’s grown far faster than ordinary incomes.
Billionaires Fleeing Taxes Flock to Lake Tahoe Haven Across California’s Border: https://bloom.bg/4as0EAk
Massive IPOs and a potential wealth tax are sending a cascade of Silicon Valley money into Nevada’s Incline Village, reshaping the quiet enclave.
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