Rep. Khanna Defends Billionaire Tax Amid Threats from Wealthy Californians
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Benzinga
- Billionaire Tax Proposal: Rep. Khanna advocates for a tax on California residents with net worth over $1 billion, imposing up to 5% on assets to fund healthcare, despite threats from wealthy individuals to relocate.
- Market Impact: He highlights that his district accounts for nearly one-third of the U.S. stock market, suggesting that the implementation of this tax could hinder innovation and growth among these companies.
- Tax Equity Debate: Proponents argue that this tax would address the imbalance in tax contributions from the ultra-wealthy, while critics warn that such policies could drive businesses out of California, threatening economic growth.
- Historical Context: Khanna asserts that Silicon Valley's history of innovation shows that taxes will not deter the establishment of future companies, potentially fostering a more equitable distribution of wealth.
NVDA
$190.53+Infinity%1D
Analyst Views on NVDA
Wall Street analysts forecast NVDA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NVDA is 255.63 USD with a low forecast of 185.00 USD and a high forecast of 352.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
40 Analyst Rating
38 Buy
1 Hold
1 Sell
Strong Buy
Current: 188.610
Low
185.00
Averages
255.63
High
352.00
Current: 188.610
Low
185.00
Averages
255.63
High
352.00
About NVDA
NVIDIA Corporation is a full-stack computing infrastructure company. The Company is engaged in accelerated computing to help solve the challenging computational problems. The Company’s segments include Compute & Networking and Graphics. The Compute & Networking segment includes its Data Center accelerated computing platforms and artificial intelligence (AI) solutions and software; networking; automotive platforms and autonomous and electric vehicle solutions; Jetson for robotics and other embedded platforms, and DGX Cloud computing services. The Graphics segment includes GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems, and Omniverse Enterprise software for building and operating industrial AI and digital twin applications.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
