Proponents of the controversial “billionaire tax” measure have collected almost double the required signatures to qualify it for the November ballot. While there are many Bay Area billionaires who oppose the tax, Nvidia CEO Jensen Huang says he’s “perfectly fine with it.”
Backers of the proposed tax, led by the union Service Employees International Union-United Healthcare Workers West (SEIU-UHW), say they’ve collected more than 1.5 million signatures — well above the roughly 875,000 required to qualify for the November ballot, pending approval from officials, as CBS News reports.
The measure would impose a one-time 5% tax on residents with net worths over $1 billion, which adds up to about 200 people statewide — who all reportedly pay less than 1.5% of their $2 trillion in combined wealth…