politics @lemmy.world · 3 days ago

California Billionaire Tax Looks to Be Failing, While Prop 42 Might Pass

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California Billionaire Tax Looks to Be Failing, While Prop 42 Might Pass

sfist.com

kreskin@lemmy.world to

politics @lemmy.world · 3 days ago

California’s proposed one-time billionaire wealth tax was trailing in early election returns Wednesday morning, while Prop 42, which would prevent any future similar measures from getting on the ballot, is ahead by over eight points.

Not only did the billionaire tax fail in California, but prop 42, to amend the California constitution to forbid the introduction of taxes on personal property (investment accounts, art) for the wealthy in the future, backed by greaseball Gavin Newsom, seems to have passed.

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Bill Clinton won because Ross Perot split the Republican ballot. He only received 43% of the popular vote.

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