From California Post · · 1m 10s
California voters want billionaire tax and its block
California voters want to pass billionaire tax but also block it with poison pills.
In brief
California voters want to pass billionaire tax but also block it with poison pills. California voters support a billionaire tax but oppose its implementation through poison pills that could nullify it. Originally reported by California Post.
California voters want billionaire tax
A poll shows 52% of likely voters support Proposition 40, which would tax billionaires' wealth at 5%.
Voters also want to block it
51% support Proposition 41 and 54% support Proposition 42, which are poison pills designed to destroy Proposition 40.
Poison pills funded by Sergey Brin
Google co-founder Sergey Brin's group Building Better California funds the poison pills to nullify Proposition 40 if it wins more votes.
Proposition 40 could still pass
Proposition 40 might pass in a close election, as the poll shows 52% support but 51% oppose it with poison pills.
Poison pills threaten California economy
Proposition 40 could kill Silicon Valley investment, raise short-term tax revenue but lower it long-term, and choke economic growth.
Unions oppose Proposition 40
SEIU-UHW president Dave Regan allegedly tried to bully other union leaders into supporting Proposition 40.
The short version
California voters support a billionaire tax but oppose its implementation through poison pills that could nullify it.
