How to Tax a Billionaire 30.7%
Mother Jones - By Michael Mechanic - 6/30/2026, 3:46 PM
Negativity Bias 26.4% - Appeal to Authority 17.7% - Politically Left Leaning Bias 17%
This November, California voters will weigh what could become America’s first-ever tax on net worth. The Billionaire Tax Act, a ballot initiative put forth by health workers after President Donald Trump blew holes in the state Medicaid budget, would impose a one-time tax of 5 percent on personal wealth exceeding $1 billion. With polls... more