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California Billionaire Tax

All articles tagged with #california billionaire tax

technology1 month ago•6 min saved

AI stock wobble: volatility rises but no bubble burst as policy drama grows

A rocky week for AI equities as Alphabet slides and chipmakers slump, dragging markets with no sign of a crash yet; SpaceX losses and OpenAI's delayed IPO underscore ongoing caution, though other AI players like Micron show resilience. Separately, California's proposed 5% one-time billionaire tax is shaping politics ahead of the 2028 cycle, with Gov. Gavin Newsom proposing a nationwide minimum tax on fortunes above $100 million as a counterproposal.

via The Guardian|

#ai #california-billionaire-tax #chipmakers

politics2 months ago•3 min saved

Newsom pivots to national wealth tax and AI stake plan after California setback

California Governor Gavin Newsom proposes a nationwide wealth tax and a public equity fund to give Americans stakes in AI after failing to block a California billionaire tax ballot measure. The national plan would impose a minimum tax on fortunes of $100 million or more, create a national public equity fund for AI, and close loopholes for the ultra-wealthy, while the California initiative would levy a one-time 5% tax on assets above $1.1 billion with 90% of revenue directed to healthcare and the rest to education and food programs. Newsom frames the proposals as addressing wealth disparity and democracy as he eyes a potential 2028 White House bid, with some Democrats backing the ideas and others opposing the CA tax approach.

via NBC News|

#ai-equity-fund #california-billionaire-tax #gavin-newsom