“Gov. Gavin Newsom vowed on Monday to stop a proposed wealth tax in California, saying that its mere introduction had already hurt the state by driving some billionaires to relocate and take their tax dollars with them,” the New York Times reports.
“The governor has long opposed a wealth tax because of concerns that it would stifle innovation in California, where the booming tech industry has sent state revenues soaring and driven the economy for years.”

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