California’s billionaire tax faces a precarious road from rich opposition

San Francisco, United States – University of California at Berkeley economics professor Brian Galle recently found a flyer in his mailbox about the proposed billionaire tax he helped write. But as he read it, Galle found things he hadn’t written, including that the tax can be on anyone and even on their retirement savings. Californians have been getting such flyers and watching similar ads as they prepare to vote in the November 3 election on whether to impose the one-time tax of 5 percent on the assets of the state’s billionaires.