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Multimillionaires should pay tax unpublished? California decides in the polls

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 23/10/2026, 18:20:26 UTC.

Briefings

California voters will vote on November 3 to approve Proposition 40, which would impose a 5% wealth tax on the top 250 millionaires. The revenue would fund health, education, and food assistance programs.

Key points

• Proposition 40 would impose a 5% wealth tax specifically on the wealthiest 250 millionaires in California.
• The proposed revenue would be allocated to health, education, and food assistance programs.

Context

This ballot measure represents a significant shift in California's tax policy, targeting high-net-worth individuals to fund public services.

Limitations

Evidence is limited to the specific details of the proposed tax rate and target population. No data on voter turnout, historical wealth tax rates, or implementation dates is provided.

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