'They Are United': California Democrats Move Forward With 5% Billionaire Tax
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Source: Zero Hedge
Published: 2026-08-04 08:00 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Politics, Property, Tax & Budget
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Snippet:
In a development that will stun absolutely no one, the California Democratic Party's roughly 380-member executive board gathered at a waterside Sheraton in San Diego this weekend and voted to endorse Proposition 40 - a "one-time" 5% levy on the net worth of the state's roughly 200 billionaires - clearing the 60% supermajority required for the party's official blessing, three months before voters render judgment on November 3.
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