“California Billionaire Tax Has Signatures Needed for Ballot, Backers Say”
June 19, 2026
“The labor union backing a proposal to place a new tax on California billionaires says it has collected enough signatures to place the measure on the state’s November ballot…”
The tax wont pass. Also, even if it does pass the billionaires will just leave. It’s nigh impossible to over tax the rich. They have options unlike the poor. Tax them to much and they will leave. This idea of “making the rich pay more taxes” never works.