Can California Actually Make Billionaires Pay?

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Dave Regan, the president of the prominent California union S.E.I.U.-United Healthcare Workers West, joins Tyler Foggatt to discuss Proposition 40, a ballot measure that would impose a one-time, five-per-cent tax on the net worth of the state’s billionaires. They talk about the origins of the initiative—which came in response to cuts to health care from Donald Trump’s One Big Beautiful Bill Act—and how the political fight over the proposition fits into the broader wave of populist politics and a growing appetite for challenging the wealthy. They also explore the opposition from a handful of wealthy Silicon Valley figures, who have spent more than a hundred million dollars to defeat the…