""California's health is at stake. Hospitals are closing and people will die. Why? So billionaires can get another tax cut that they don't need.""
""After playing with matches since October, the SEIU has succeeded in lighting a 'Tax the Rich' wildfire by getting enough signatures.""
A proposal in California aims to impose a one-time 5% tax on billionaires, generating $100 billion for healthcare funding. The Service Employees International Union-Healthcare Workers West supports this measure, which has gathered over 1.5 million signatures. The tax targets individuals with a net worth exceeding $1 billion as of January 1, 2026. Opponents, including Governor Gavin Newsom, argue it may drive wealthy residents out of the state, while supporters emphasize the urgent need for healthcare funding amid hospital closures and federal cuts.
Read at ABC7 San Francisco
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