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California Voters Reject 5% Billionaire Wealth Tax in Prop. 40

California voters rejected Proposition 40, an initiative that would have imposed a one-time 5 percent tax on the personal assets of billionaires. Most of the revenue was to go to health care.

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California voters rejected Proposition 40, an initiative that would have imposed a one-time 5 percent tax on the personal assets of billionaires. Most of the revenue was to go to health care.

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