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Failure of California Billionaire Tax Strikes Blow to Progressive Agenda

The New York Times

November 10, 2026 at 03:10 PM

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A wealth tax on billionaires seemed like a political layup. The outcome of a California ballot initiative shows otherwise.

A wealth tax on billionaires seemed like a political layup. The outcome of a California ballot initiative shows otherwise.

Failure of California Billionaire Tax Strikes Blow to Progressive Agenda

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