California voters reject billionaire tax
California voters have rejected a proposed tax on billionaires. The measure, known as Proposition 40, aimed to impose a one-time 5 percent tax on the state's wealthiest individuals.
The proposed tax was intended to fund healthcare initiatives. Sources indicate that the tax would have applied to billionaires' total wealth, encompassing various assets such as shares, in addition to their income.
Compiled from: Al Jazeera · BBC News
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