Can California Make Billionaires Pay More Without Driving Them Away? | Firstpost America

As Americans head to the polls for the 2026 midterm elections, California voters face another consequential decision: whether to impose a one-time five percent tax on billionaires' accumulated wealth. Proposition 40 could raise tens of billions of dollars, with most proceeds earmarked for healthcare. But the proposal has triggered a fierce battle between supporters, including Bernie Sanders and healthcare unions, and wealthy opponents led by Google co-founder Sergey Brin. The outcome could…