Former Google CEO Eric Schmidt Expresses Frustration Over California Wealth Tax Coalition's Direction
Former Google CEO Eric Schmidt is reportedly upset with the direction of 'Building a Better California,' a group funded by Google co-founder Sergey Brin, which aims to oppose California's proposed wealth tax. Schmidt, a $3 million donor to the organization, is frustrated after the California Democratic Party endorsed Proposition 40, a union-backed measure that would impose a one-time 5% tax on Californians worth over $1 billion. The party also opposed Propositions 41 and 42, two counter-measures supported by Brin's group. Insiders suggest that 'Building a Better California' is experiencing 'mission creep,' as it has expanded its focus beyond the wealth tax to include six different state ballot measures, including environmental policy. This broader scope is causing concern among some donors and advisers who fear it could dilute the group's effectiveness in its primary mission. 
