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California voters reject one-time wealth tax on billionaires

California voters reject one-time wealth tax on billionaires
Photo: KVIA ABC-7 · view original

By Katie Dolan and Kaanita Iyer, CNN (CNN) — Voters in California have rejected a measure to impose a one-time 5% wealth tax on residents with a net worth of over $1 billion. Proposition 40 became one of the highest-profile and expensive fights over ballot measures this election cycle. With the b...

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