California Billionaire Tax Becomes National Labor Fight
The measure would direct 90% of revenue to healthcare and 10% to education and food, while targeting wealth above $1 billion.
8 Articles
8 Articles
Billionaire Exodus Looms — Newsom Ups The Ante
California’s billionaire-tax fight is no longer just a state ballot battle; its backers are now selling it as a national model while the state’s richest people look for the exits. Quick Take Governor Gavin Newsom is pushing a national billionaire tax while California fights its own version. The California measure would impose a one-time 5...
California nurses back billionaire tax measure despite Newsom's warning wealthy will flee
California's proposed billionaire tax has picked up another major endorsement, adding to what Newsweek has described as one of the state's most closely watched ballot fights. Backers said support from the California Nurses Association gives the tax measure added momentum, while Gov. Gavin Newsom has warned that the state's wealthiest residents could respond by leaving California. What's happening? Proposition 40, which would place a one-time 5% …
The Tax That Terrifies Billionaires Isn’t About Taking Their Money. It’s About Making Them Count It
California has just raised a question that the West has been putting off for far too long. The proposal, which the California secretary of state says could be included on the November 2026 ballot, calls for a one-off, extraordinary tax of up to 5% on net worth exceeding $1 billion, with 90% of the revenue allocated to healthcare and 10% to education and food. The text, filed with the attorney general’s office, doesn’t mention expropriating compa…
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