California’s proposed ‘billionaire tax’ fails to pass

Summary

California voters have rejected Proposition 40, the state’s proposed one-time tax on billionaires, the Associated Press reported Monday. The measure failed after an expensive campaign that pitted labor unions against some of tech’s wealthiest figures. Nic Carter lives about as far from Silicon Valley as you can get within the continental U. but his feelings about California’s proposed tax on billionaires couldn’t have been stronger.