Contributor: You don't have to be wealthy to worry about California's wealth tax ^60.8%

Los Angeles Times - By Veronique de Rugy - 5/28/2026, 5:30 PM

Negativity Bias 24.1% - Pessimism Bias 15.5% - Slippery Slope 14.7%

Californians will face two competing tax measures this November. The first is the Billionaire Tax Act, a one-time, 5% levy on the accumulated net worth of the state’s richest residents. Lesser known is the Retirement and Personal Savings Protection Act, which would draw constitutional lines around what Sacramento can and cannot tax,... more