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Real Fight With Oligarchy Begins as Billionaires Tax Qualifies for Ballot in California
"David won the second round against Goliath, but healthcare workers and our allies won’t quit until we protect patients from the looming California healthcare collapse manufactured by Trump and Congress."
Jun 18, 2026
Advocates of a plan to tax California billionaires were celebrating Thursday following confirmation from California Secretary of State Shirley Weber that the proposal had gathered enough signatures to appear as a ballot initiative this November.
Weber revealed late Wednesday that proponents of the California Billionaire Tax Act had gathered more than the 875,000 signatures needed, reaching the benchmark ahead of June 25 deadline.
The proposed tax, which has drawn opposition from Democratic California Gov. Gavin Newsom and support from Sen. Bernie Sanders (I-Vt.), will hit the state’s billionaires with a one-time 5% wealth tax that proponents say will be used to fund local hospitals, food aid, and public education.
Proponents of the tax have called it necessary to make up for budget shortfalls created by the One Big Beautiful Bill Act, the 2025 Republican budget law that slashed spending on Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
Debru Carthan, a spokeswoman for the Billionaire Tax Now Coalition, said on Thursday that getting the proposed tax on the ballot puts the state "one step closer to saving the hospitals and emergency rooms that we all rely on" and that are being endangered by cuts imposed by the GOP law.
"With today’s news, David won the second round against Goliath," added Carthan, "but healthcare workers and our allies won’t quit until we protect patients from the looming California healthcare collapse manufactured by Trump and Congress."
A poll of California voters conducted in March by the University of California, Berkeley found that the proposed billionaire tax is broadly popular, with support outweighing opposition by a roughly two-to-one ratio.
An analysis by the Institute on Taxation and Economic Policy estimates that the tax will raise $100 billion in revenue over the next five years, which would be enough to fill the hole in California’s state budget caused by the GOP cuts.
We are at a crossroads
This country and this world are at a monumental crossroads. US voters have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. If you share our vision, please contribute whatever you can to sustain our work. |
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Advocates of a plan to tax California billionaires were celebrating Thursday following confirmation from California Secretary of State Shirley Weber that the proposal had gathered enough signatures to appear as a ballot initiative this November.
Weber revealed late Wednesday that proponents of the California Billionaire Tax Act had gathered more than the 875,000 signatures needed, reaching the benchmark ahead of June 25 deadline.
The proposed tax, which has drawn opposition from Democratic California Gov. Gavin Newsom and support from Sen. Bernie Sanders (I-Vt.), will hit the state’s billionaires with a one-time 5% wealth tax that proponents say will be used to fund local hospitals, food aid, and public education.
Proponents of the tax have called it necessary to make up for budget shortfalls created by the One Big Beautiful Bill Act, the 2025 Republican budget law that slashed spending on Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
Debru Carthan, a spokeswoman for the Billionaire Tax Now Coalition, said on Thursday that getting the proposed tax on the ballot puts the state "one step closer to saving the hospitals and emergency rooms that we all rely on" and that are being endangered by cuts imposed by the GOP law.
"With today’s news, David won the second round against Goliath," added Carthan, "but healthcare workers and our allies won’t quit until we protect patients from the looming California healthcare collapse manufactured by Trump and Congress."
A poll of California voters conducted in March by the University of California, Berkeley found that the proposed billionaire tax is broadly popular, with support outweighing opposition by a roughly two-to-one ratio.
An analysis by the Institute on Taxation and Economic Policy estimates that the tax will raise $100 billion in revenue over the next five years, which would be enough to fill the hole in California’s state budget caused by the GOP cuts.
From Your Site Articles
- 'Unlikely Bedfellows': Left-Leaning Groups Join Newsom-Backed Effort to Sink California Billionaire Tax ›
- 'The 2026 Billionaire Tax Act': Emergency Proposal Aims to Fight Back Against Trump Attack on Medicaid ›
- Pedal to the Metal on California's Billionaire Tax ›
Related Articles Around the Web
Advocates of a plan to tax California billionaires were celebrating Thursday following confirmation from California Secretary of State Shirley Weber that the proposal had gathered enough signatures to appear as a ballot initiative this November.
Weber revealed late Wednesday that proponents of the California Billionaire Tax Act had gathered more than the 875,000 signatures needed, reaching the benchmark ahead of June 25 deadline.
The proposed tax, which has drawn opposition from Democratic California Gov. Gavin Newsom and support from Sen. Bernie Sanders (I-Vt.), will hit the state’s billionaires with a one-time 5% wealth tax that proponents say will be used to fund local hospitals, food aid, and public education.
Proponents of the tax have called it necessary to make up for budget shortfalls created by the One Big Beautiful Bill Act, the 2025 Republican budget law that slashed spending on Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
Debru Carthan, a spokeswoman for the Billionaire Tax Now Coalition, said on Thursday that getting the proposed tax on the ballot puts the state "one step closer to saving the hospitals and emergency rooms that we all rely on" and that are being endangered by cuts imposed by the GOP law.
"With today’s news, David won the second round against Goliath," added Carthan, "but healthcare workers and our allies won’t quit until we protect patients from the looming California healthcare collapse manufactured by Trump and Congress."
A poll of California voters conducted in March by the University of California, Berkeley found that the proposed billionaire tax is broadly popular, with support outweighing opposition by a roughly two-to-one ratio.
An analysis by the Institute on Taxation and Economic Policy estimates that the tax will raise $100 billion in revenue over the next five years, which would be enough to fill the hole in California’s state budget caused by the GOP cuts.
From Your Site Articles
- 'Unlikely Bedfellows': Left-Leaning Groups Join Newsom-Backed Effort to Sink California Billionaire Tax ›
- 'The 2026 Billionaire Tax Act': Emergency Proposal Aims to Fight Back Against Trump Attack on Medicaid ›
- Pedal to the Metal on California's Billionaire Tax ›
Related Articles Around the Web
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