How Billionaires Are Fighting the Wealth Tax

“Every Tuesday for the last few months, two dozen of the world’s richest people or their advisers hop onto a conference call and plan for war,” the New York Times reports.

“The war is against a proposed tax, but not just any tax. It is against a ‘wealth tax’ on California billionaires, one that Silicon Valley’s most affluent see as an existential threat that and usher in a new way of attacking them. So in confidential memos, WhatsApp and Signal chats and conference calls, they are banding together to battle back.”

“The calls are organized by Building a Better California, a nonprofit started this year to fight Proposition 40, the ballot measure that would impose a one-time 5 percent tax on billionaires if voters approve it next week.”