Prop 40: One-Time Wealth Tax on Billionaires

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 Read the transcript for this episode Catch up on Prop Fest Your support makes KQED podcasts possible. You can show your love by going to https://kqed.org/donate/podcasts 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