In one of the most expensive ballot fights in California history, opponents heavily outspent supporters of a billionaire tax to mostly fund healthcare. On Wednesday, the wealth tax appeared headed for defeat though results on Proposition 40 were too close to call.

cross-posted from: https://lemmy.world/post/54152859

Proposition 40, which would impose a one-time 5% tax on California billionaires to help fund healthcare, appeared headed for defeat, though votes were still being counted.

Opponents raised hundreds of millions of dollars to fight the measure, far outspending supporters, who argued the tax could help offset federal healthcare cuts.

The campaign also faced opposition from Gov. Gavin Newsom, teachers, business groups and others, while voters weighed concerns about taxing assets and the possibility that billionaires could leave California.

  • DarkFutureEnglish
    1·
    4 hours ago

    Yup, it was a case of people not doing their due diligence and actually digging into the bill. They saw the 30 second spot, paid for by billionaires, that said taxing billionaires was bad because [fill in the lie] and they just went with that.

    It’s not surprising that Americans don’t do their due diligence when it comes to voting, but it is, and always will be, very disappointing.