Billionaire tax: how a union leader’s ‘crazy’ idea became the defining issue of California’s midterms

<p>It was an ambitious notion – now Californians will vote on a one-time 5% billionaire tax, and state’s super rich have pulled out all the stops in opposition</p><p>One year ago, the idea of a billionaire tax in California was still in its infancy.</p><p>It wasn’t yet one of the most contentious ballot measure fights in state history – pitting Democrats against Democrats, drawing national attention from political heavyweights, and netting hundreds of millions of Silicon Valley dollars to fight it. Back then, it was a bold and desperate answer to Donald Trump’s healthcare cuts.</p> <a href="https://www.theguardian.com/us-news/ng-interactive/2026/oct/30/california-billionaire-tax">Continue reading...</a>