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Billionaire Tax to Save California Healthcare

Billionaire Tax to Save California Healthcare

Published 3 days, 5 hours ago
Description

California’s healthcare system is on the brink, and a bold new ballot measure aims to solve it by taxing billionaires—proposing a one-time 5% levy on those with over $1 billion in net worth to fund hospitals, education, and food aid. Backed by a powerful union, the plan could raise $100 billion to offset federal cuts, but it’s sparking fierce backlash from Governor Newsom and wealthy residents who fear it’ll drive capital out of the state. With billionaires already relocating and counter-proposals threatening to block the tax, the battle is heating up—and the future of California’s care depends on whether voters will choose fairness over fear.

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