Taxation

• Prosecutors Resign Over ICE Investigation, and Israel Is Still Demolishing Gaza - Plus, the battle over taxing billionaires.
• Mr. Mamdani Goes to Albany, This Time as a Political Celebrity - Mayor Zohran Mamdani of New York City returned to the State Capitol for the first time since taking office, underscoring the shifting political winds since his victory.
• Gavin Newsom Vows to Stop Proposed Billionaire Tax in California - Gov. Gavin Newsom said he was working behind the scenes to block a proposed tax on billionaires’ wealth and was committed to defeating the measure if it reached the ballot.
• Thiel Gives $3 Million to Group Seeking to Block California Wealth Tax - More large donations from wealthy Silicon Valley figures are expected as they try to marshal opposition to a proposed ballot measure that would impose a new tax on billionaires.
• A Wealth Tax Floated in California Has Billionaires Thinking of Leaving - It’s uncertain whether the proposal will reach the statewide ballot in November, but some billionaires like Peter Thiel and Larry Page may be unwilling to take the risk.
• The Billionaires Have No One to Blame but Themselves - The first rule of dark money is to quit blabbing about it. Did they think people would thank them for it?
• Businesses Are Cashing In on Trump’s Tax Cuts - Corporate tax revenue has quickly dipped since Republicans passed tax cuts this summer. But economists think these tax breaks might be worth it.
• For ‘No Tax on Tips,’ the I.R.S. Gets Intimate - The Trump administration wants to exclude earnings from “pornographic activity” from a new tax break for tips. Will the I.R.S. know it when it sees it?