A threshold below the billionaires
Most wealth tax proposals target the ultra-rich — those with $1 billion or more. This one would start lower. The exact threshold isn't specified, but the proposal would capture individuals with assets under $1 billion, a category that includes many wealthy residents who are not billionaires. That's a much broader group than the state's billionaires, and it's a departure from the usual focus of such measures.
The proposal is notable because it would reach into a segment of the population that has largely been untouched by wealth tax discussions. It's not just the top of the wealth pyramid; it's a wider slice of the state's affluent population.
What the tax would look like
Details are scarce. The proposal doesn't specify a tax rate, exemptions, or how
