California’s governor, who is considering a White House run, proposed an expansive national wealth tax last week, as well as an initiative to give Americans a stake in AI.

California's billionaire tax heads to the November ballot despite Newsom's opposition. Tax passing at 35% YES.

"The fact that the ultra-wealthy and billionaire-backed politicians like Gov. Newsom nearly succeeded in killing it is the single best argument for why we need to tax billionaires…

The ballot measure will decide if California will impose a one-time 5% tax on its billionaire residents, an idea that has been controversial.