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Fortune

Jason Ma

California tech founders unload on a proposed state wealth tax that already has some billionaires preparing an escape. 'I am screwed for life'

California Ro Khanna Dylan Field Palmer Luckey

(Credit: Kyle Grillot—Bloomberg via Getty Images)

A proposed wealth tax aimed at billionaires hasn’t yet qualified for California’s ballot, but it’s already sparked intense pushback from tech founders in the state.

It started when the New York Times reported that venture capitalist Peter Thiel and Google cofounder Larry Page were looking into leaving California in case the tax becomes law.

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