Wealth tax divides California liberals, heads for expected defeat on Nov. 3 ballot
California's proposed wealth tax is struggling to reach majority support, battered by an intense opposition campaign and liberals divided over whether a one-time levy is worth losing rich job creators and future revenue to other states.
TL;DR
- California's proposed wealth tax faces challenges in achieving majority support.
- An intense opposition campaign is impacting the tax's prospects.
- Liberals are divided over the potential consequences of the tax.
- Concerns exist about losing wealthy job creators and future revenue to other states.
- The measure is expected to be defeated on the November 3rd ballot.