A proposed wealth tax targeting billionaires in California has sparked intense pushback from tech founders in the state, with some preparing to leave if the tax becomes law. Prominent conservative tech entrepreneur Palmer Luckey explains, “One market correction, nationalization event, or prohibition of divestiture (not at all uncommon during wartime) and I am screwed for life.”
Fortune reports that a proposed wealth tax aimed at billionaires in California has yet to qualify for the state’s ballot, but it has already triggered a wave of criticism from tech founders who warn of its potential consequences. The proposal, which calls for…
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