Aug. 17, 2026
New podcast flags unanswered questions around proposed billionaire tax
A five-part series, "Unpacking the Billionaire Tax," takes a close look at how Prop. 40 would actually work if voters approve it in November.
Proposition 40, the Billionaire Tax Act, has a simple headline: a 5% tax on the net worth of California billionaires. But a five-part Daily Journal Network podcast series walking through the 31-page initiative surfaces questions its text leaves unanswered -- whether the tax would survive a court challenge, how a key valuation dispute process would work in practice, and whether courts can meet the timeline the act sets for itself.
California residents as of Jan. 1, 2026 with a net ...
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