Proposed 'billionaire tax' in California spurs controversy and heavy spending
About 90% would go toward healthcare, which has had steep federal funding cuts.California is considering a one-time 5% tax on the wealth of billionaires. SEIU-UHW, a healthcare workers union, recently submitted the signatures required to put the tax to a vote as a ballot measure in November. California Gov. Gavin Newsom opposes the tax. In a May 5 debate, all the candidates running for California governor but one, Tom Steyer, voiced opposition. Steyer later told Wired that the tax “doesn’t go fa...