Tax Billionaires, Save Lives: California’s Proposition 40 Is Met With a Heap of Meritless Objections
A one-time tax on the super wealthy is an important step toward greater equality.
After the latest tanking of the stock market, the stocks of 101 companies on the S&P 500 are now trading at less than $10 a share. As Reuters notes, the number can create its own feedback cycle as many institutional investors are prohibited from holding shares valued below this amount.
In fact, only 314 of the companies listed in the S&P 500 are qualified to be there, as the other 186 have fallen below the required $4 billion minimum market capitalization required for membership.
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