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Billionaire's tax attacked in scathing new ad ahead of debate: 'It will backfire'

California Post·Titus Wu·27 days ago
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Californians watching the gubernatorial debate Tuesday night won’t just be deciding who to support for governor — but also whether they’ll vote against a tax on billionaires. A political action committee backed by crypto billionaire Chris Larsen is debuting an ad during tonight’s debate attacking the proposed tax , Politico reported. The Golden State Promise PAC said in an announcement that it will spend eight figures on the ad campaign, including digital ads and mailers. According to campaign finance records, Larsen has put $5 million of his money into the PAC, and so did his company Ripple, which facilitates crypto payments. The voiceover ad highlights what it portrays as bipartisan unity against the tax from Gov. Gavin Newsom, Republicans, and Democrats. Newsom has publicly promised to fight the initiative. “It will backfire and hurt you,” the ad claims.…

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