DDHQ predicted on the X platform that California voters are expected to veto the nation's first tax proposal against billionaires. This is the end of an expensive and deeply divided political struggle in California history. Proposal 40 originally planned to levy a one-time 5% wealth tax on the assets of billionaires living in California in early 2026, with most of the tax revenue being used to fund the healthcare system. According to the data, after about 71% of the votes were counted, only 46% of voters supported the proposal and 54% opposed it. The failure of the proposal dealt a major blow to attempts to tax huge wealth across the US. Supporters originally hoped California would provide a model for similar sports in other parts of the US. However, the proposal was opposed by multiple coalitions, including organizations such as tech billionaires, Democratic Governor Gavin Newson, and California Family Planning Affiliates, and ultimately failed to pass.

DDHQ predicted on the X platform that California voters are expected to veto the nation's first tax proposal against billionaires. This is the end of an expensive and deeply divided political struggle in California history. Proposal 40 originally planned to levy a one-time 5% wealth tax on the assets of billionaires living in California in early 2026, with most of the tax revenue being used to fund the healthcare system. According to the data, after about 71% of the votes were counted, only 46% of voters supported the proposal and 54% opposed it. The failure of the proposal dealt a major blow to attempts to tax huge wealth across the US. Supporters originally hoped California would provide a model for similar sports in other parts of the US. However, the proposal was opposed by multiple coalitions, including organizations such as tech billionaires, Democratic Governor Gavin Newson, and California Family Planning Affiliates, and ultimately failed to pass.