Billionaire tax on California ballot causing a stir

Ballot today is a proposed billionaire tax. If Proposition 40 passes, there would be a one-time 5% tax on taxpayers and trusts in excess of $1 billion. However, if either Prop 41 or 42 passes or gets more votes than Prop 40, or if all three of them pass, then the billionaire tax would be nullified. Hundreds of millions of dollars have been spent trying to defeat that tax. And Governor Newsom is among the many critics who've warned it would drive jobs out of California. Will not attract future high-income earners as well. They'll go to other states to start their companies and grow jobs, and we will lose all of that. And we already are. According to Forbes, if Prop 40 passes, Meta CEO Mark Zuckerberg and NVIDIA CEO Jensen Huang stand to pay the most in taxes, the revenue would go primarily towards health care in California. Now, the union behind Prop 40 said yesterday in a statement. Roughly 20 California billionaires are spending $1 million a day, more than any ballot measure in our state's history, trying to defeat Prop 40. But they are failing. However, the latest poll by the Public Policy Institute of California suggests just 46% of voters say they would vote yes on the tax. That's down from 52% last month and short of the 50% that's needed to pass it. Voters in Michigan are heading to the polls today for one of the nation's most closely watched Senate races. Democrat Abdul El-Sayed and Republican Mike Rogers are battling for a crucial open congressional seat. Campaign tensions escalated over the weekend following a shocking endorsement shakeup that surprised even voters and leaders. Democratic Representative Haley Stevens revoked her support for El-Sayed to back his Republican rival. Listen, she probably didn't agree with me on much on policy, but what we both knew, we both knew. That we both loved America, and we loved America more than we loved our parties. The disease is the system that allows big corporations and billionaires and special interests to buy and sell politicians in ways that leave them rigging the system against us. Watch as our government sends our muscles. El-Sayed's campaign says that announcement brought in $2 million since the last-minute endorsement over the weekend. The contest could ultimately determine which political party controls the U.S. Senate.