California Democrats Take Unconventional Stance on Billionaire Tax: In a surprise move, the California Democratic Party has announced its support for a ballot measure that would impose a one-time, five-percent tax on the state's 200 billionaires. The proposed tax, which would generate an estimated $20 billion in revenue, has sparked intense debate within the party, with some high-profile Democrats, including Governor Gavin Newsom, publicly opposing the idea. Despite the opposition, the party's executive board narrowly voted to endorse Proposition 40, which has been championed by progressive activists as a way to address the state's growing wealth gap and fund social programs. The decision sets the stage for a contentious election season in California, where voters will have the final say on the measure.
The California Democratic (CADEM) Party on Sunday announced that it backs a ballot measure to charge the state’s 200 billionaires with a one-time, five-percent tax on their net worth, a measure that has faced opposition from California Democrats, including the state's governor. The state party's executive board narrowly voted to back Proposition 40, known as...
