Google co-founder Sergey Brin spending more than $100 million fighting California wealth tax
This is read by an automated voice.Please report any issues or inconsistencies here.
See more from the L.A.Times in Google Search.
Set us as preferred The fight over a proposal to tax the assets of California billionaires to fund healthcare is getting more expensive.Google co-founder Sergey Brin has poured $102 million this year into Building a Better California, a group that’s funding two ballot measures that could block a billionaire tax, data from the California Secretary of State show.Brin’s latest donation totaled $20 million.
It highlights how California’s ultra-wealthy are battling a proposal to tax their net worth.Brin’s net worth was $284 billion at the start of the week, making him the world’s fourth-richest person, according to the Bloomberg Billionaires Index.
Building a Better California’s website says it’s a nonpartisan group focused on “supporting forward-looking ideas to improve affordability and quality of life for all Californians” while protecting innovation and economic growth.It’s also backing affordable housing efforts.The group declined to comment about Brin’s contributions.Building a Better California is bankrolling two ballot measures — Propositions 41 and 42 — that supporters of the billionaire tax say are meant to “trick voters” into nullifying a wealth tax.
Voters will weigh in on the tax proposal, known as Proposition 40, and the other measures in November.The Service Employees International Union United Healthcare Workers West, politicians such as U.S.
Sen.Bernie Sanders (I-Vermont), the California Democratic Party and other groups back the wealth tax.
“California billionaire Sergey Brin would rather spend $100 million to fund a shady opposition campaign than simply pay his fair share in taxes so millions of Californians don’t lose their healthcare.That’s shameful.
Billionaires already pay much lower tax rates than what working families pay out of every paycheck,” SEIU-UHW Vice ...