A proposal to tax California’s billionaires is testing the limits of America’s enthusiasm for making the über-rich pay their share. The so-called Billionaire Tax would raise an estimated $100 billion through a one-time, 5% “wealth” tax on roughly 200 California billionaires. Proponents are collecting signatures to get the tax on the November ballot. The billionaire tax is polling well among California voters: half of them support it, and 28% oppose it, according to a survey released in March by UC Berkeley and Politico. But California Gov. Gavin Newsom opposes the tax, and some of the state’s most prominent billionaires say…
Author: everyonehub2025@gmail.com
Every so often, a new set of economic buzzwords enters — or reenters — the zeitgeist. This spring, terms like the “K-shaped economy” and “stagflation” are having a moment. They shape how politicians, pundits, and the media discuss the economy, but their nuances and real-world implications are often lost in the discourse. Stagflation fears, for example, are surfacing as oil prices spike due to the U.S.-Israel war against Iran, reigniting inflation worries. Even Federal Reserve Chair Jerome Powell said he reserved the term for a “more serious set of circumstances” than what the nation faces today. “I always have to…
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