Topic
Statewide propositions and constitutional amendments put before California voters, covering tax policy, governance and other binding law changes.
Sergey Brin has given $102 million to defeat California's Prop 40, a one-time 5% billionaire tax that could cost him about $13 billion. The state's $100 billion estimate depends as much on how many of its 200 billionaires stay resident as on the November vote.
Reality
PPIC's September survey puts Prop 40 at 52%, Prop 41 at 51% and Prop 42 at 54%, and Prop 40 takes effect only if it outpolls both in yes votes. Every gap between the three sits inside a 3.8-point margin of error.
Reality
A letter from six Nobel economists asks Californians to treat Proposition 40 as the start of a movement other states, Washington and other countries copy. The vote is in November, and the state's own pollster has supporters behind.
Reality
Two law firms hired by different tiers of SEIU examined Dave Regan's conduct. One corroborated an account that he pressed the state council to endorse his retroactive 5% wealth tax under threat of a federal labor investigation.
Reality
California's one-time 5% billionaire asset tax is ahead but under 50% with 11% undecided. The poll's own director says that is a red flag. It is also not a reason to stop planning.
Reality
The San Francisco Democratic Party broke with its state party 17-4 to oppose Prop 40, but the six billionaires who have already ended their California residency are the only votes on this measure that are already counted.
Reality
Proposition 40 would take 5% once from anyone worth over $1 billion. August polling puts it at 48% among likely voters and 75% among 18-to-29s. The composition of the November electorate is the only number that decides it.
Reality
The CPA body opposes Proposition 40 on administrability grounds, then endorses Proposition 42, which would bar the tax outright. Approval votes, not a majority, settle it.
Reality
A 5% levy on about 200 people was costed against wealth that has already moved. Fortune counts roughly $29 billion gone, and the two men at the top were 28.5% of the base.
Reality
California's billionaire tax faces a nine-figure defense built as ballot engineering: two counter-measures that only have to outpoll Prop 40, not beat it head-on.
Reality