The Guardian · California · Original story
Billionaire tax: how a union leader’s ‘crazy’ idea became the defining issue of California’s midterms
It was an ambitious notion – now Californians will vote on a one-time 5% billionaire tax, and state’s super rich have pulled out all the stops in opposition
One year ago, the idea of a billionaire tax in California was still in its infancy.
It wasn’t yet one of the most contentious ballot measure fights in state history – pitting Democrats against Democrats, drawing national attention from political heavyweights, and netting hundreds of millions of Silicon Valley dollars to fight it. Back then, it was a bold and desperate answer to Donald Trump’s healthcare cuts.
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Dara Kerr · Fri, Oct 30, 2026, 8:00 AM
California | The Guardian
It was an ambitious notion – now Californians will vote on a one-time 5% billionaire tax, and state’s super rich have pulled out all the stops in opposition
One year ago, the idea of a billionaire tax in California was still in its infancy.
It wasn’t yet one of the most contentious ballot measure fights in state history – pitting Democrats against Democrats, drawing national attention from political heavyweights, and netting hundreds of millions of Silicon Valley dollars to fight it. Back then, it was a bold and desperate answer to Donald Trump’s healthcare cuts.
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