Californians reject wealth tax for billionaires

BBC ^ | Nov 2026 | Sareen Habeshian

[CondoleezzaProtege]

California voters have voted to reject a wealth tax on its billionaires.

The ballot proposal would have levied a one-time tax on the state's mega wealthy to help fund healthcare. It took nearly a week of counting votes after the midterm election to determine a projection on the measure.

There are about 200 billionaires in the state, including Meta's Mark Zuckerberg, reality television star Kim Kardashian and media mogul Oprah Winfrey.

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TOPICS: California; Issues; State and Local
KEYWORDS: billionaire; ca; proposition; tax

[ChronicMA]

Is Kim Kardashian our first porn star billionaire?

I remember that she gained worldwide attention with her sex tape in 2007 and that eventually lead to all her other major money making endeavors.

[DIRTYSECRET]

I voted for it. They vote democrat, give their money to the democrats and the democrats are the cause of all the trouble here. So why do the peons stick up for them? They’re not smart enough to know where their bread’s buttered.

[chud]

Good point.

[E. Pluribus Unum]

They’ll try again. And again. And again. Until it passes. It’s what they do.

[Texas resident]

California dims run the state.
They run the elections and count the votes.

Probably the case here is the billionaire politicians didn’t want their fortunes raided. That and to protect their billionaire donors.

[Vendome]

Interesting.

California knew the results of Governor, Congress and local issues last week but, it took them an entire week to tabulate this one issue?

[Texas resident]

It will pass after the politically connected and their donors have offshored their wealth.
Then there won’t be any billionaires left, so the tax will drop down to all wage earners to make up for the shortfall.

[aquila48]

Yeah next time (in 2029) it’ll be not just California, but at the federal level.

[j.havenfarm]

I understand and no criticism of your decision. But I voted on what I view as first principles. I refuse to buy into the rat agenda of hate and envy, to take from people because “they can afford it.” Thats why I voted against the surcharge of wealthy taxpayers a few years ago, and Prop 3, which made it permanent. Prop 40 was flat out theft and I oppose stealing from people, no matter who they are

But maybe we can agree on this: The state is broke. Bonds are akin to a bankrupt person taking out a credit card. Those bastards in the Legislature use the budget money to piss away on choo choos, illegals, etc. bonds always pull the heart strings because the money is directed to such seemingly worthy causes. And the idiot voters fall for it every time

[cgbg]

Attempting to tax billionaires is just silly.

They can move their wealth anywhere at any time—and then bribe local officials to do their bidding.

They could even bribe election officials to get whatever result they wanted—only if needed of course.

:-)

[FrankRizzo890]

(Waits patiently for the state to find a judge to invalidate the referendum results, and declare the tax in force). You know, like the left is doing up here in Washington on the “Trans in girls sports” issue. We voted to keep them out, so the state is now suing to have the results overturned.

[Repealthe17thAmendment]

I looked up some of the polling prior to the election, and it looks like it was passing at one point, then as the election got closer, the polling shifted.

New poll shows billionaire tax falling behind as election nears

With less than a week before Election Day, support for Proposition 40, a proposed billionaire tax, is now under water, according to the latest poll by Public Policy Institute of California. Published Tuesday, the survey found that 46% of 1,086 likely voters support the tax, while 52% don’t.

That’s a notable change from last month, when Prop. 40 proponents held a slim 52% majority. The billionaire tax is by far the biggest and most expensive fight on the ballot. As of mid-October, wealthy people who oppose it have raised more than $205 million to fight the tax, including Google co-founder Sergey Brin, who has poured at least $102 million.

Not to be conspiratorial, but this is typically the pattern we've seen time and again when there is a little bit of "assistance" in an election.

[Codeflier]

Well, when your Democrat governor candidate doubles the votes of the Republican, it’s pretty easy to know that race. It’s the most lopsided governor race in CA history. The voters want more and more of that delicious one party Democrat rule it seems.

[alancarp]

53.2% to 46.8%. Admittedly a bit shocked on this one.

[alancarp]

Also noteworthy: an accurate poll.

[pierrem15]

The "billionaires tax" with a lower limit adjustable by the Dem thieves in the CA legislature would quickly undo Proposition 13 so CA could tax the crap out of every homeowner in CA.

Scum

[Ronald77]

Not to worry, another ballot dump is on the way.

[Drew68]

So many statewide ballot initiatives passed (or failed) in the conservative preference.

I guess the Great Election Stealing Machine missed those.