Steven Spielberg has said goodbye to Hollywood and joined the growing list of billionaires fleeing California ahead of a hefty new proposed wealth tax as Gov. Gavin Newsom (D) remains committed to taxing the state into prosperity.
The Daily Mail reports the director bought a home in the iconic San Remo co-op in New York City overlooking Central Park.
The outlet provides background to the new tax and its broad impact:
The much maligned proposal would see residents with a net worth of more than $1 billion pay a one-time tax worth five percent of their assets.
If the bill passes a vote due in November, it would retroactively affect billionaires…
Read the full article at BREITBART.COM
