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Proposition 40 is a one-time 5% wealth tax on California's billionaires. If passed, 90% of the revenue would go to healthcare, while the other 10% would help fund public education and food assistance programs.
Additional Resources:
LISTEN: The Union Man Taking on the Democratic Establishment with a Billionaire Tax
LISTEN: Stanford Economist Makes the Case Against California's Billionaire Tax
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This story was reported by Marisa Lagos. Prop Fest is a collaboration between Bay Curious and The Bay. It’s made by Olivia Allen-Price, Katrina Schwartz, Christopher Beale, Anna Casalme, Ericka Cruz Guevarra, Alan Montecillo, Gabriela Glueck and Pauline Bartolone. Additional support from Jen Chien, Katie Sprenger, Maha Sanad, Ethan Toven-Lindsey and everyone on Team KQED. Learn more about your ad choices. Visit megaphone.fm/adchoices
