California’s proposed tax on billionaires’ wealth is closing in on the November ballot. Backers of the initiative say they have gathered more than 1.5 million signatures, well above the roughly 875,000 required, to put a one-time 5 percent levy on residents worth $1 billion or more before voters, the Wall Street Journal reported, Los Angeles County election officials still need to verify the signatures, but campaign insiders expect the measure to clear the threshold, according to people familiar with the effort. The proposal, led by the Service Employees International Union–United Healthcare Workers West, has been framed as a response to […]
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