California Democrats Support Billionaire Tax, but Debate Lingers

Leaders of the state Democratic Party endorsed the ballot measure slated for November, but the party remains far from united on the issue as Democrats nationwide grapple with a growing wealth gap.

The California Democratic (CADEM) Party on Sunday announced that it backs a ballot measure to charge the state’s 200 billionaires with a one-time, five-percent tax on their net worth, a measure that has faced opposition from California Democrats, including the state’s governor. The state party’s executive board narrowl

California Billionaire Tax Wins Support From State Democratic Party  WSJ