Billionaire Tax Divides California Democrats Ahead of Proposition 40 Vote

According to a commentary by Norman Solomon in The Guardian, the state's most powerful Democrats are fighting a billionaire tax in California, a split the piece says exposes the party's corporate-progressive divide. The Guardian's summary describes the proposed one-time 5% tax on billionaire wealth as an "unprecedented measure" with enormous potential nationwide.

Solomon reported that a high-quality poll taken midway through the summer found Democrats in California overwhelmingly in favor of the upcoming ballot measure, by a ratio of more than 4 to 1. The commentary contrasts that voter support with the opposition of the state's top Democrats.

In a report by Max Rego, The Hill reported that California voters this midterm cycle will decide whether the state will impose a wealth tax on billionaire residents. According to The Hill, voting yes on Proposition 40 would support the one-time 5 percent tax on billionaires' wealth, and wealthy Californians are organizing against the measure.

The Hill also reported that experts say the measure's potential broader impact on the state's economy is "nuanced," and its headline says the proposal divides California Democrats and raises myriad questions.

The two outlets differ in emphasis. The Guardian's piece centers on the division within the Democratic Party, while The Hill's report centers on the ballot decision and the economic debate. Neither source reports a result, since according to The Hill the vote has not yet taken place. Each outlet attributes its figures to its own reporting, and the sources give no date for the vote beyond the midterm cycle.

Sources: The Guardian: Top Democrats are fighting a billionaire tax in California. Their voters are on the other side |; The Hill: Billionaire tax divides California Democrats, draws myriad questions.