Progressive taxation, wealth taxes, safety‑net programs, and anti‑poverty policy.
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Proposition 40 proposes a one-time 5% tax on the unrealized capital gains of individuals in California with a net worth exceeding a certain high threshold, essentially targeting the state’s billionaires. It’s not an annual income tax but a specific levy on accumulated,…
A slim majority of likely California voters are backing a proposed tax on billionaires, according to a new poll, but voters are also lining up behind two competing November ballot measures that could nullify the billionaire tax. Voters will weigh…
As is the case with most election cycles, the claims and counterclaims about the ballot measures being voted on in California this time around are largely based on caricatures of the measures themselves. That's especially true of the highest-profile measure,…
Microsoft has not weighed in on the income tax meaure on this year's ballot. (Nick Wagner / The Seattle Times) The last time Washingtonians voted on an income tax, the state's biggest corporations opened their wallets to kill the idea. In…
by Gary Leff on October 18, 2026 United Airlines CEO Scott Kirby told the New York Times that he wants a national wealth tax and inheritance taxes approaching 100%. He’s worried about inequality, the same week his airline further stratified customers by raising…
In California, technology billionaires are funding a campaign against Proposition 40 — an amendment to the state constitution on a one-time 5% wealth tax on the richest residents. Google co-founder Sergey Brin donated at least $102 million to the campaign against the initiative, RMF24 reports.
Five of the 14 statewide ballot measures are related to taxes The one you’ve likely heard most about is Proposition 40, which, if passed, would make California the first state to introduce a wealth tax. Almost all of the tens of billions…
California voters will decide on November 3 whether to approve Proposition 40, a proposed one-time 5% tax on the net worth of the state's approximately 200 billionaires. The measure, championed by health care workers union leader Dave Regan, aims to offset anticipated federal health…
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October 18, 2026 / 9:27 AM EDT / CBS News When California voters head to the polls next month, they'll be asked whether to adopt a new proposal that calls for billionaires to be taxed like never before. Jo Ling Kent shares what Proposition 40 is…