A Primer: The Labor and Public-Interest Coalition Against Prop 40

Prop 40’s wealth tax would levy a one-time 5% tax on roughly 200 billionaires to fund healthcare and schools—yet the teachers, doctors, clinics, builders, housing advocates, and law-enforcement groups it claims to help have joined to oppose it. They argue that a one-time, volatile tax makes their funding less stable, not more. The state’s own analyst projects it would cost California income-tax…