Sergey Brin backs billionaire tax repeal campaign with $45 million
Business
Google co-founder Sergey Brin is backing a campaign with $45 million to block California's proposed billionaire tax.
The plan, advanced by backers led by labor leader Dave Regan, would hit anyone worth more than $1 billion with a one-time 5% tax to help fund health care and public services.
Brin's support is part of larger effort
Brin's support is part of a larger $80 million effort by Building a Better California, which argues the tax could drive wealthy people (and their money) out of the state.