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California's Prop 40 billionaire wealth tax explained
Original: California's Prop 40: What to know about the billionaire wealth tax
California voters are weighing Proposition 40, a ballot measure that would impose a wealth tax on the state's billionaires. The proposal targets extreme wealth rather than income, and its backers argue it would raise significant revenue for state services. Critics have raised concerns about billionaire departures and economic effects. Coverage is focused on what the measure would actually do and who it would affect.
Why now: The billionaire wealth tax ballot measure is up for a vote in California, drawing widespread public interest.
Evidence
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