California Will Vote on a Billionaire Tax. Billionaires Aren’t Happy.

kept by eddie jun 26

A proposed California tax on billionaires faces two opposing ballot measures funded by wealthy individuals, highlighting political tensions over inequality.

Raise Taxes on the Rich? These Rich New Yorkers Are All for It. - The New York Times
A group of wealthy New Yorkers publicly supports Mayor Zohran Mamdani's proposal to raise taxes on residents earning over $1 million annually.
also on #taxation, #inequality, #economy, #politics
NYC’s Pied-à-Terre Owners Hunt for Creative Ways to Dodge New Tax - WSJ
NYC pied-à-terre owners are seeking creative, sometimes dubious, ways to avoid a new second-home tax, including setting up offshore entities or pretending relatives live there.
also on #taxation
Weary of Data Brokers? California Site Offers One-Stop Opt Out for 500+ Services
California's DROP tool lets residents request deletion from over 500 data brokers in one go, but faces technical glitches and only works for state residents.
also on #california, #us-government
ongoing by Tim Bray
Tim Bray argues that rising wealth inequality constitutes a class war the 99% is losing, advocates for wealth taxes on the ultra-rich as a democratic solution, and warns that inaction will lead to violence.
also on #inequality, #politics, #us-government
The haves and have nots of the AI gold rush
A Menlo Ventures partner says the AI boom has created a stark divide where roughly 10,000 people have achieved retirement wealth while many software engineers face layoffs and career uncertainty.
also on #inequality, #economy