The Guardian view on global inequality: extreme wealth threatens democracy | Editorial

New York mayor Zohran Mamdani shows Britain’s Andy Burnham that confronting billionaires need not mean the end of cooperation with Donald Trump In November, Californians will vote on a one-off 5% levy on residents worth more than $1bn. The union-backed plan could raise $100bn, more than enough to replace federal healthcare funding stripped away by Donald Trump’s One Big Beautiful Bill Act. About 200 very rich people would pay. But the referendum is becoming a test of whether extreme wealth can…