Latest / San Jose News Today | 2 Min News | The Daily News Now!
California's Bold Wealth Tax Push | San Jose News
California’s November ballot is heating up with Proposition 40, the bold proposal to impose the first-ever wealth tax in U.S. history—targeting the ultra-rich to fund public services and potentially unlock hundreds of billions for state coffers. If it passes, expect nationwide legal battles and a seismic shift in tax policy. This follows in the footsteps of Proposition 13, which reshaped tax politics decades ago. Now, opponents are pushing back with their own measures, including Proposition 43, aiming to reinstate strict local tax approval rules overturned by the Supreme Court. Meanwhile…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.