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Story summary
- Calls for taxes on the superrich rise due to income inequality and displays of billionaire power.
- Proposals include higher income taxes and wealth taxes on assets above certain thresholds.
- In the United States, Senator Elizabeth Warren and New York City Mayor Zohran Mamdani have proposed higher taxes on the wealthy.
- California is considering a one-time 5% tax on individuals worth over $1 billion, which could significantly impact its economy.
