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The Billionaire Game of Chicken: California’s $100 Billion Wealth Tax Battle

Name: The Billionaire Game of Chicken: California’s $100 Billion Wealth Tax Battle
Uploaded: 2026-02-05T19:02
Channel: NBC Palm Springs
Description: California is debating a "Billionaire Tax Act" that would levy a one-time 5% tax on residents worth over $1 billion to fund healthcare. Governor Newsom is aggressively opposing the measure, fearing it will drive innovation and capital out of the state, while labor unions argue it is a necessary step to protect social services from federal cuts.

By: NBC Palm Springs

February 5, 2026

2026 Billionaire Tax ActGavin NewsomWealth TaxSEIUCalifornia BudgetBillionaire ExodusHealthcare FundingPeter ThielLarry PageCapital Flight

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