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AI Czar Criticizes California Billionaire Wealth Tax
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David Sacks, the White House AI czar, told CNBC at Davos that a proposed California one-time wealth tax on billionaires would amount to 'asset seizure' and could enable repeated levies. The ballot initiative would impose a 5% tax on residents with net worths above $1.1 billion; supporters are still gathering signatures and legal challenges are expected.
Scoring Rationale
Moderate industry impact and credible sourcing; limited novelty and narrow state-level scope constrain broader significance.
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