Townhall·2 hours ago·Friday, November 6, 2026, 2:15 PM

California May Reject Its Wealth Tax, but Democrats’ Blue Wave Could Take the Idea Nationwide

The “no” votes are leading in California, where Proposition 40 would impose a one-time wealth tax on the state’s billionaires. But amid Tuesday’s blue tsunami, the apparent rejection of what would be the nation’s first statewide wealth tax offers only limited comfort. Its defeat is likely to not erase the damage its prospective passage may already have done to California, or end the push to take the idea nationwide.

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