wealth tax

British  

noun

1. a tax on personal property; capital levy

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Example Sentences

Kiley said he drafted the bill in reaction to reports that several of California’s most prominent billionaires — including Meta Chief Executive Mark Zuckerberg and Google co-founders Larry Page and Sergey Brin — are planning to leave the state in anticipation of the wealth tax being enacted.

From Los Angeles Times

Facebook billionaire Mark Zuckerberg has reportedly snapped up an extraordinary waterfront mansion on Miami’s infamous Billionaire Bunker—seemingly becoming the latest tech tycoon to flee California before a proposed wealth tax is implemented on the state’s wealthiest residents.

From MarketWatch

Interestingly, while other wealthy California residents have been open in their objections to the wealth tax, Zuckerberg has remained somewhat mum about the proposal, although he has continued to invest ample funds into the continued growth of the state’s technology epicenters.

From MarketWatch

Notably, New York office REITs fell much less than they did last summer when Mamdani first floated his wealth tax plan in June.

From Barron's

“There are a lot of provisions that are designed based on what has worked well in other countries with wealth taxes in the modern era, especially Switzerland, and there are also provisions meant to shut down some of the holes in some of the earlier wealth tax efforts, especially the France one, that were viewed as not successful,” said David Gamage, a University of Missouri tax law professor and another of the proposal’s drafters.

From Los Angeles Times