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‘Trojan horse’: California’s top 1% pay nearly half the state’s income taxes. Prop 40 opponents warn the billionaire tax could reach everyone else

Headline as filed by Fortune.

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Fortune ‘Trojan horse’: California’s top 1% pay nearly half the state’s income taxes. Prop 40 opponents warn the billionaire tax could reach everyone else
The state legislature could modify Prop 40 with a two-thirds vote, but courts would also weigh in on any attempts to stretch the scope to all taxpayers.
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