CA Rejects Billionaire Tax, WA Backs Millionaires

Early returns have California's Proposition 40 trailing, about 55.6% against with 60% of the vote in, per The Post Millennial. It's a one-time 5% tax on billionaires, and Gov. Gavin Newsom opposed it while backing a countermeasure, Proposition 42, that looked on track. Six billionaires moved out before the vote, taking an estimated $27 billion in tax revenue with them. That's a revenue plan that comes with a moving truck. Semafor calls the race too close to call Wednesday, so the final word isn't in. Over in Washington, about 58.1% did not want to repeal the state's 9.9% tax on income above $1 million. Richard Stern, quoted by Fox News, says 'That's socialism.' Regular folks figured this out a long time ago.

“That's socialism”Richard Stern, via Fox News