Vote Yes On 40, Vote Yes On 3, Billionaires Won’t Tread On Me!
California Billionaire
Wealth is Surging
Since Trump’s reelection, the collective wealth of California’s 225 billionaires has grown by at least $570.8 billion, while the rest of us are working multiple jobs just to get by and our families face cuts to health care and education.
California Families
Face Rising Costs
Billionaires are spending hundreds of millions of dollars to further enrich themselves and crush working people. They want to hoard all of the wealth and all the power and continue rigging the game in their favor. We aren’t going to let them.
What's at stake
Prop 40 protects health care for low-income Californians while restoring education and food assistance funding gutted by Trump’s “Big Ugly Bill” by requiring California’s 225 billionaires pay a one-time 5% tax on their wealth.
Prop 3 permanently protects roughly $15 billion a year in school and health care funding by extending the existing high-income tax
Vote No on Prop 41 and Prop 42
Poison Pill Prop 41 would block new state taxes from being exempted from California’s spending cap and impose costly new audit requirements on programs funded by new or increased special taxes. Because Prop. 40’s billionaire tax is a special tax that is exempt from the spending cap, Prop. 41 could overturn it.
Poison Pill Prop 42 would permanently ban California from taxing ownership of financial assets, business interests, and other personal property. It would block the billionaire wealth tax and protect immense fortunes from taxation, leaving working families and ordinary taxpayers to pick up the tab for public goods and services.
A slight majority — 52 percent — of voters support Proposition 40, which would impose a one-time, 5% tax on billionaires’ assets, according to the Public Policy Institute of California survey. But that is a fragile lead as opponents prepare to spend tens of millions of dollars on an ad blitz.
Becerra’s ballot allies | Politico California Playbook
A new committee formed to pass Prop 40 is aiming to nationalize SEIU-UHW’s wealth tax message, arguing that the measure is not simply about funding for health care but also “picking a side” in what they describe as a battle for democracy. The committee, Tax the Ultra-Rich Now, organized and seeded with an initial $250,000 from Alan Davis, the director of WhyNot initiative and chaired by Igor Volsky, the campaign director of Tax the Greedy Billionaires, plans to make that case to voters via a statewide bus tour kicking off early next month. “This is about something a lot larger than revenue,” Volsky said. “This is about who controls the future.”
Billionaire tax picks up key endorsements from Democratic, labor groups
To counter the flood of money being spent in opposition to a proposed state billionaire tax — as well as the opposition of some prominent officials and labor groups — proponents of the measure are likely going to need the support of some powerful allies. In recent days, they got just that.
Momentum Grows for Billionaire Wealth Tax in California
A California ballot measure that would impose a one-time tax on the state's billionaires has received another major endorsement, as supporters seek to build momentum ahead of a vote later this year.
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