California prepares to vote on a «world-first» tax on billionaires
California residents will decide the fate of Proposition 40 in the midterm elections on November 3, 2026 — a one-time 5% tax on the wealth of the state's billionaires, expected to raise about $100 billion for healthcare. The measure has split the elite: some billionaires have left the state, while others have publicly backed the tax. California residents will decide the fate of Proposition 40 in the midterm elections on November 3, 2026 — a one-time 5% tax on the wealth of the state's billionaires, intended to raise about $100 billion for healthcare. The measure has split the elite: some billionaires have left the state, while others have publicly backed the tax.
Aziz Karimov