Proposition 40, which would impose a one-time 5% tax on California billionaires to help fund healthcare, appeared headed for defeat, though votes were still being counted.
Opponents raised hundreds of millions of dollars to fight the measure, far outspending supporters, who argued the tax could help offset federal healthcare cuts.
The campaign also faced opposition from Gov. Gavin Newsom, teachers, business groups and others, while voters weighed concerns about taxing assets and the possibility that billionaires could leave California.
A bit of a nothingburger story because shit just hasn’t changed. It was a 10 point margin a week ago at 74% counted and like 9.5 point margin at 75% counted. AP won’t call it because that missing 25% is a few million votes.
And trust me I’ve checked every day, it’s just really slow and uninteresting until it’s counted. I’m not hopeful of course, but seeing Prop 42 (which worries me more) go from 8 point margin to 5 gives me pause at the very least.
Every American plays temporarily embarrassed billionaire. It has been easy to pretend that while the going was good. It will be much harder to do so from the gutters.
