California voters reject one‑time billionaire wealth tax, AP says

A 5% tax on billionaires would still leave them billionaires. Everyone who voted no: You will never be a billionaire. Nothing about this tax would have TOUCHED YOU. You were scammed by fearmongering misinformation YouTube ads. GOOD JOB

California voters have rejected a first-in-the-nation billionaire tax following a contentious ballot where tech leaders spent massive amounts of money to purposely misled the voters to protect their own fortunes. apnews.com/article/cali...

“Buying an election is not the same as winning the debate,” the measure’s proponents said in a statement on Monday. “The billionaires may have bought themselves a temporary victory at the ballot box, but they have not bought themselves an end to this debate, and this is only round one.”

Anyway so glad we voted down the billionaire tax so more poor people in CA can have little to no healthcare.

Sergey Brin spent over $100 million to dodge a one-time 5 percent tax, which was money meant to backfill Medi-Cal cuts. Tech billionaires outspent supporters four to one so sick Californians can go without. Greedy, gutless fucks, every one of them.

LATimes: Billionaires spend hundreds of millions to defeat the CA billionaire tax bill. If they can spend that kind of money on political pressure, they can afford the tax.

People are like, “California people will never vote to raise taxes! They’re anti tax!” That’s false. We voted to raise taxes up and down the state, including a permanent 2% income tax increase for ppl making above 350k. We only rejected the billionaire tax. We’re not anti tax. We’re stupid.

The effort to tax billionaire wealth has only begun. Closing the loopholes that let the ultrarich defer tax on their gains indefinitely is overwhelmingly popular, and even after outside spending narrowly defeated California’s measure, national efforts may soon follow. More from @levernews.com ⬇️

The billionaire tax in California has failed to pass. I did another look at opposition spending as campaign finance disclosures continue to trickle in. Top take aways: Sergey Brin spent: $132M Tech Super PACs total raised: $425M www.theguardian.com/us-news/2026...

The ultra-rich will try to stop *any* limit to their wealth. But they can't stop these ideas everywhere. Everywhere is where the rest of us live. Measures like this will start to break through. We are better off without multi-billionares. Millions spent & ONLY won by 53% to 47%. #USpoli #CDNpoli

how on earth did ads convince middle class homeowners the billionaire tax would affect them who the hell is still watching ads stop doing that

Heavy sigh.. "Billionaire tax Prop 40 was officially rejected in California" They had confusing competing propositions on the ballot, tons of money against it, and Newsom against it.

"Gavin, the Billionaires’ Boy." - @prospect.org's Harold Meyerson has the rundown on how @gavinnewsom.bsky.social helped torpedo the billionaires tax in California - reportedly doing the work on behalf of his billionaire buddies from Silicon Valley.

Just listened to a discussion about how to tax billionaires. Do we tax wealth or their regular income? Anyone thinking a billionaire becomes wealthy by earning “regular income” is succumbing to self delusion. Above a million, taxing wealth is fairness. #result #mepolitics #VoteBlue

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