“California voters had a chance to impose the nation’s first-ever tax on billionaires’ assets. Instead, they voted to ban wealth taxes altogether,” the Wall Street Journal reports.
“A ballot initiative to prohibit new state taxes on personal property is set to pass, the Associated Press said late Friday. Known as Proposition 42, the measure was leading by a 2.6-point margin with an estimated 96% of votes counted following the Nov. 3 election, AP said.”
New Republic: California billionaires got a tax break for fighting the wealth tax.
?Political Trivia
Eight moments in political history. Put them on a timeline.
Play →
Five senators. Three bills. Can you guess how they all voted?
Play →
Nine Justices. One case. How did they rule?
Play →
Do you have your finger on the pulse of America?
Play →
Four questions a day.
Play →
A new game every day.