Episode Details

Californians head to the ballot this November to decide on a bold new tax targeting billionaires with net worth over $1.1 billion, aimed at funding healthcare and social services — potentially raising $100 billion over five years. But wealthy opponents are pushing back with competing measures designed to block it, creating voter confusion and legal battles. The debate reflects a national reckoning with wealth inequality, as Governor Newsom opposes the state plan, fearing it could hurt innovation and drive billionaires out — while proposing a federal wealth tax instead. With deep divisions and high stakes, voters will ultimately decide whether California embraces this radical new path to fund public needs.

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