The Guardian · California · Original story
Top Democrats are fighting a billionaire tax in California. Their voters are on the other side |
The unprecedented measure has enormous potential nationwide. The clash exposes the party’s corporate-progressive divide
Midway through this summer, a high-quality poll found that Democrats in California were overwhelmingly in favor of the upcoming ballot measure for a one-time 5% tax on billionaire wealth.
The ratio was more than 4 to 1. But the state’s most powerful Democrats – including the governor Gavin Newsom, his near-certain successor Xavier Becerra and the Los Angeles mayor Karen Bass – have lined up with Silicon Valley billionaires who’ve raised upward of $340m to defeat the initiative.
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Norman Solomon · Sat, Oct 31, 2026, 4:00 AM
California | The Guardian
The unprecedented measure has enormous potential nationwide. The clash exposes the party’s corporate-progressive divide
Midway through this summer, a high-quality poll found that Democrats in California were overwhelmingly in favor of the upcoming ballot measure for a one-time 5% tax on billionaire wealth.
The ratio was more than 4 to 1. But the state’s most powerful Democrats – including the governor Gavin Newsom, his near-certain successor Xavier Becerra and the Los Angeles mayor Karen Bass – have lined up with Silicon Valley billionaires who’ve raised upward of $340m to defeat the initiative.
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