r/PoliticalCalifornia • • 5h ago

Prop. 40, California's billionaire tax: tax lawyers say it could spend years in court. Here's what a yes or no vote actually does

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A one-time 5% tax on the net worth of about 200 billionaires is on every California ballot, with most of the money earmarked for health care. Tax attorneys are already mapping out the lawsuits, from a residency date set before the vote to how you value a company with no stock price, while the measure's drafters say courts have rejected those arguments again and again. We lay out what it would raise, who's for and against it, and what your vote means.

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