Billionaire Tax Act: Mapping the California billionaires being asked to pay their fair share
Follow DemLabs on our NEW social media! Billionaire Tax Act: Mapping the California billionaires being asked to pay their fair share The 2026 Billionaire Tax Act would impose a one-time 5% excise tax on residents with a net worth exceeding $1 billion. The SEIU-UHW union, argue it would offset federal cuts to Medicaid and food assistance. The tax uses funds from households that gained the most from the Republican tax cuts to protect those who were hurt the most. California has 12% of the US population but 28% of all US billionaire wealth. The collective wealth of California billionaires surged from $300 billion in 2011 to $2190 billion ($2.2 trillion) in 2025. — Berkeley Study Check this StoryMap for for billionaires and the extreme poverty of people living near them. I will miss them very much A proposed ballot measure in California that would increase taxes on its wealthiest residents has Pro-Trump b...