Newsroom

California Medical Association CEO joins California Politics 360 to discuss the group’s opposition to the proposed wealth tax.

“The dangerous wealth tax directly threatens vital funding for education and schools, healthcare and clinics, public safety, and infrastructure projects…”

“A labor union spent $31 million gathering signatures to qualify the measure for the ballot…”

“A controversial proposal is officially headed to the ballot, setting up a high‑stakes political fight despite opposition from the state’s top leaders…”

“…many liberals in the state fear the long-term economic costs.”

The proposed tax points to a sharp drop in tax revenue, a shrinking tax base, fewer jobs, and stagnant economic growth.

“The nonpartisan Legislative Analyst’s Office has cautioned that revenues are difficult to predict and could be affected by taxpayer behavior and market volatility.”

“…[Prop 40] has splintered some of the state’s many labor unions to create a broad coalition of strange bedfellows who rarely join hands but are now collaborating to kill it.”

Among voters already aware of the measure, opposition exceeds support by a 53% to 40% margin.

“…this proposal is fatally flawed.”