At a glance
Sergey Brin is spending more than $100 million to defeat California's proposed billionaire wealth tax. The massive spending reflects elite efforts to block progressive taxation policies.
Sergey Brin is spending more than $100 million to defeat California's proposed billionaire wealth tax. His spending reflects the intensity of elite resistance to progressive taxation.
A $100 million spend to fight a tax is a bet that protecting wealth concentration is worth more than the cost of the campaign. Brin can afford it because his net worth is in the tens of billions. A $100 million loss is trivial compared to potential tax obligations if the wealth tax passed. This is a show of force — demonstrating that billionaires can outspend virtually any grassroots campaign opposing them.
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