prop40

🇺🇸 JUST IN: Nvidia CEO Jensen Huang says he's fine paying up to $8 BILLION under California's billionaire tax.
In a CBS interview, Huang said being able to pay $8 billion over five years is "a privilege and a responsibility," adding that he's "not afraid of paying taxes," only "of becoming poor."
The measure is Prop 40, headed to California's November ballot. It would impose a one-time 5% tax on the net worth of roughly 200 billionaires living in the state, payable in full or spread over five years. Backers estimate it would raise about $100 billion for health care, food assistance and education, partly in response to federal Medicaid cuts.
Huang has been consistent. Back in January he told Bloomberg he was "perfectly fine" with it, saying "we chose to live in Silicon Valley, and whatever taxes they would like to apply, so be it."
Other billionaires are fighting it hard. Google co-founder Sergey Brin has now put over $100 million into the opposition campaign, while Peter Thiel has explored spending more time outside California. Critics argue the tax could push wealth and talent out of the state. Supporters say the ultra-wealthy aren't paying their fair share and the state needs the revenue.
One of the world's richest men is volunteering to pay, while others spend nine figures to stop it.
#Nvidia #JensenHuang #BillionaireTax #California #Prop40

California’s Proposition 40 would impose a one-time 5% wealth tax on 200 billionaires. But before the tax even took effect, people were already leaving. Larry Page moved his family office out of California and snapped up two Miami mansions for $173 million. He alone took nearly $15 billion in tax revenue out of California’s tax base. Brin poured $100 million into opposing the measure, and even the governor said it would hollow out the tax base. Jensen Huang, meanwhile, is unfazed: he’s not moving. The takeaway is simple: capital always votes with its feet. A tax designed to grab money can end up grabbing nothing but thin air.#加州 #财富税 #Prop40