California's billionaire wealth tax initiative has collected enough valid signatures to be eligible for the November ballot.

Don’t know if there is a complete absence of economics understanding in CA, but if you get rid of the billionaires here, you will get rid of all the taxes they pay. About 85% of CA revenue is paid by the top 1%. If you don’t want the city to afford to function, go ahead and get… https://t.co/4zrDd1gmRc

— Justine Bateman (@JustineBateman) June 18, 2026