This ballot push will accelerate the great California exodus turning the state into a broke socialist experiment with no one left to tax.

1.5 million Californians just signed a petition to tax the state's 200 billionaires 5%.. one time.. to fund hospitals, schools and food programs..

they needed 875,000 signatures.. they got nearly double..

and California's own governor is fighting against it..

the billionaires… https://t.co/feNGqbxb7x pic.twitter.com/CK657jI9b3

— Tuki (@TukiFromKL) April 27, 2026

Just like France’s wealth tax that drove out millionaires and billionaires while raising almost nothing net.

Anyone with any assets will be leaving California.

It won't remain only focused on billionaires. They will gradually target everyone.

Over $1 trillion in wealth has already moved out of California to avoid this. $25 billion in tax revenue moved away, before it even passed. https://t.co/E3H9fRz96m

— Wall Street Mav (@WallStreetMav) April 27, 2026

California is one step closer to America’s first billionaire wealth tax — and the divide between red and blue state taxes is getting deeper

There are diverging paths on state income taxes

This year is shaping up to be a milestone moment for state income taxes after last year’s massive changes to federal income taxes. It may also shape up as a major test as to whether rich households move away in the face of tax hikes.

The backers of a 5% wealth tax on California billionaires said Monday they’ve collected more than 1.5 million signatures, more than enough to put the measure on the ballot in November.