Why Even Some Democrats Hate California’s Billionaire Tax Proposal
4/29/202627 min
A landmark proposal for a one-time tax on billionaires in California recently reached a milestone. The labor union backing it said it had collected enough signatures to put the measure on the state’s ballot.
Laurel Rosenhall, who covers California politics for The New York Times, explains how the state arrived at this moment and what it might mean nationwide.
Guest: There are enough signatures to place the California billionaire tax proposal on the state ballot in November, its backers say.
Background reading:
- There are enough signatures to place the California billionaire tax proposal on the state ballot in November, its backers say.
Photo: Jae C. Hong/Associated Press
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First 90 secondsSpeaker 00:00
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Natalie Kitroeff· Host0:34
[upbeat music] From The New York Times, I'm Natalie Kitroeff. This is The Daily.
Speaker 2· Soundbite0:39
Starting right here in California, these billionaires are gonna learn that we are still living in a democratic society where the people have some power.
Natalie Kitroeff· Host0:57
A landmark proposal for a one-time tax on billionaires in California reached a milestone this week. It got enough signatures to put the measure to a vote.
Speaker 3· Soundbite1:09
Those who have prospered from here in California can afford to invest a little more in keeping California running.
Natalie Kitroeff· Host1:19
Proponents say it's necessary to right the wrongs of an unequal system.
King Charles III· Soundbite1:23
It's like the Democrats are doing everything they can to get me to leave the state. I don't want to.
Natalie Kitroeff· Host1:27
[laughs] Opponents