Private schools should be accountable like public schools
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A proposed 'billionaire tax' in California aims to impose a one-time 5% wealth tax on the state's billionaires to fund public education and other services. The idea is part of a growing trend across the US, with similar proposals emerging in at least 10 states and at the federal level.
A proposed tax on billionaires in California could help fund public education and other services. The tax would impose a one-time 5% wealth tax on the state's 200-plus billionaires. Similar proposals are emerging in other states, including Washington, which passed an income tax targeting millionaire households. The idea is also being considered at the federal level, with a proposed annual 5% wealth tax for billionaires. The trend reflects growing anger at income inequality in the US. Billionaire fortunes have grown rapidly in recent years, while the federal minimum wage has remained stagnant.
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