The ultra-rich are spending one million dollars a day fighting California’s proposed billionaire tax

Tech billionaires have raised more than $340m to defeat Prop 40, a one-time 5% wealth tax that will fund healthcare and education Tech billionaires have been dumping hundreds of millions of dollars into the fight against a wealth tax in California.

They’ve raised more than $340m, and the campaign they’re funding is spending more than $1m a day to defeat the measure, according to state financial disclosures. With the election less than a month away, those funds are being spent at a stepped-up pace. During the first 19 days of September, according to the most recent campaign filings, the opposition campaign plowed…