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We must tax the wealth of billionaires, not just income. California can lead the way | Ro Khanna

Will California stand with the working class or the oligarchs in the vote this November? The Democratic party has a choice to make. Are we going to be New Deal Democrats or corporate Democrats? Are we standing with the working class or the tech oligarchs? Proposition 40, California’s billionaire tax, is the most important ballot initiative in America and…

Sources (1)· Oct 19, 10:00 AM

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Newsom backs California ballot measure that cancels out billionaire tax proposalCalifornia Gov. Gavin Newsom (D) endorsed a ballot measure that, if approved by voters, would cancel out the ballot measure proposal that would impose a one-time tax on the Golden State's billionaires. On Friday, Newsom endorsed Proposition 42, which would prohibit retroactive taxes imposed by Proposition 40, known as the Billionaire Tax Act, for any...
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