California’s raid on the rich passes major milestone as hated billionaire tax qualifies for ballot

Source: New York Post

California’s controversial billionaire tax measure has secured enough signatures and qualified to appear on the November ballot after securing nearly one million signatures, according to the state’s secretary of state. The measure — championed by the Service Employees International Union-United Healthcare Workers West (SEIU-UHW) — would levy a one-time 5% tax on the state’s ultra-rich whose assets exceed $1 billion. If approved by voters in November, the measure would be the first of its kind in the country.