California’s proposed one-time billionaire wealth tax was trailing in early election returns Wednesday morning, while Prop 42, which would prevent any future similar measures from getting on the ballot, is ahead by over eight points.

Not only did the billionaire tax fail in California, but prop 42, to amend the California constitution to forbid the introduction of taxes on personal property (investment accounts, art) for the wealthy in the future, backed by greaseball Gavin Newsom, seems to have passed.

  • prole@lemmy.blahaj.zone
    8·
    3 days ago

    The text for Prop 40 isn’t confusing or ambiguous at all

    https://ballotpedia.org/California_Proposition_40,_One-Time_Wealth_Tax_for_State-Funded_Healthcare,_Education,and_Food_Assistance_Programs_Initiative(2026)

    A “yes” vote supported this initiative to levy a one-time 5% tax on the accumulated wealth of taxpayers and trusts with covered assets valued over $1 billion, including shares of capital stock, bonds or other evidences of indebtedness, and any legal or equitable interest, to fund state health care programs, food assistance programs, and public education.

    Seems pretty clear to me what this is, and yet it’s still failing. Bunch of temporarily embarrassed billionaires in California I guess 🙄

    • QuinnyCoded@sh.itjust.works
      2·
      3 days ago

      I was more talking about 41 and 42 being confusing, sorry I should’ve been more clear.

      here is a screenshot including 41 and 42

      • prole@lemmy.blahaj.zone
        1·
        2 days ago

        Yeah those are def confusing as fuck. And yeah that’s the game they play with the wording of ballot initiatives.

        But 40 is still the first one and it’s not confusing imo and it’s still failed

        Also, unless they’re lying about Bernie Sanders being against 41 and 42, that would have def helped me. But yeah the rest is obviously intentionally confusing and if it were me I would probably have left 41 and 42 blank (assuming I wouldn’t have done the research on each before voting)

    • pigup@lemmy.world
      1·
      3 days ago

      If I read that with the comprehension skills of some of the dumbasses I’ve met in my life: “Say yes to help Levi’s jeans company get 5% of 1 billion of taxpayer (that’s me) money. The rest is just legal speak.” = hell naw I ain’t give that much money to them I don’t even like those jeans.