Story perspectives

Billionaires Spend $75M to Block California Tax Initiative

4/13/2026

Summary

Story summary

Campaigns in California pay $15 per signature to defeat a proposed billionaire tax, aiming to spend $75 million, largely funded by Sergey Brin (Google co-founder) and other wealthy individuals.
The effort reflects a growing trend of billionaire influence in politics.
Since the Citizens United ruling, political spending has surged, with 19% of federal donations in 2024 coming from billionaires.
More than 75% of Americans disapprove of Citizens United.

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Story summary

Campaigns in California pay $15 per signature to defeat a proposed billionaire tax, aiming to spend $75 million, largely funded by Sergey Brin (Google co-founder) and other wealthy individuals.
The effort reflects a growing trend of billionaire influence in politics.
Since the Citizens United ruling, political spending has surged, with 19% of federal donations in 2024 coming from billionaires.
More than 75% of Americans disapprove of Citizens United.