California's 2026 Billionaire Tax sounds simple — but experts warn the ripple effects could cost non-billionaires via lost revenues, higher taxes, & corporate departures.

California has over 200 billionaires that could be hit by a proposed wealth tax. Several have moved assets out of the state.

Californians will vote in November on a controversial proposal to impose a one-time tax on billionaires to help fund federal funding cuts to healthcare for low-income people.