San Jose Mayor Matt Mahan has come out against a controversial proposal to create a “billionaire tax” in California. Backers see it as a means of filling a massive deficit facing the state’s health care system. In a nearly 300-word thread posted to X Monday, Mahan warned if passed by voters, the pending statewide ballot measure would drive wealthy entrepreneurs out of California, sapping the state’s tax base and undermining its economic dynamism. “We need a rising economic tide to lift all boats, not a political plan that will sink California’s innovation economy,” Mahan wrote. The post is just the latest…
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