Story perspectives

California’s 2026 Ballot Includes Proposition 40 Wealth Tax

By Drooid · Sep 26, 2026, 2:59 AM UTC · How we work

Left

Billionaire wealth tax

California will hold its general election on Nov. 3, 2026, including Proposition 40 among 14 statewide ballot measures.
Proposition 40 is framed as a tax to fund healthcare, education and food aid for vulnerable Californians amid federal cuts.
The tax would levy 5 % on net worth over $1 billion, raising $100 billion.
Service Employees International Union-United Healthcare Workers West drafted tax to keep rural hospitals open.

Right

Business Exodus Warning

California will hold its general election on November 3, 2026, featuring a gubernatorial race and 14 statewide ballot measures, including Proposition 40.
Business leaders warn the wealth tax could prompt an exodus of affluent Californians, harming the economy.
A UC Berkeley poll shows Proposition 40 support at 45%, down from 48%, 42% oppose.
Governor Gavin Newsom opposes Proposition 40, warning of long-term fiscal damage to the state.

Center

Nobel Scholars Support

California will hold its general election on Nov. 3, 2026, with a gubernatorial race and 14 statewide measures, including Proposition 40.
Campaign filings show Sergey Brin donated $102 million to oppose Proposition 40, while six Nobel laureates, including Daron Acemoglu and Paul Krugman, back it.
A UC Berkeley poll (Sep. 15-20) found 45% support, 42% opposition and 13% undecided on Proposition 40.
UC Berkeley poll (Aug. 3-9) showed Democrat Xavier Becerra leading Republican Steve Hilton 55% to 37%.

Blindspot

Union leader Dave Regan has been accused of threatening and physically assaulting women, according to a recent Times report.
Within this story's sources, this allegation appears mainly in Left-leaning coverage and receives less attention in the Center- and Right-leaning coverage.

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Billionaire wealth tax

California will hold its general election on Nov. 3, 2026, including Proposition 40 among 14 statewide ballot measures.
Proposition 40 is framed as a tax to fund healthcare, education and food aid for vulnerable Californians amid federal cuts.
The tax would levy 5 % on net worth over $1 billion, raising $100 billion.
Service Employees International Union-United Healthcare Workers West drafted tax to keep rural hospitals open.

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