Aug 14, 2020
First-in-Nation Wealth Tax Introduced by California State Lawmakers
On Thursday, Assemblymember Ron Bonta (D-Oakland) and several lawmakers introduced legislation that would establish a first-in-the-nation net worth tax. This proposed wealth tax would generate an estimated $7.5 billion per year for California’s vital needs like education, housing, health care, and other state services.
The California Wealth Tax (AB 2088 as amended) would apply a 0.4% tax on the…
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