Perspectives

It’s hard to believe, but we’re six days away from Election Day. And while pundits are obsessing over polls and prediction markets to get a sense of how things will shake out next Tuesday, we know the one thing that is the real bellwether for this election cycle. Reporting from The Washington Post found that 60% of families in battleground districts across the country can’t afford basic essentials.

As promised, we wanted to send out a second Closer Look this week to share additional key information about Prop 40 before Election Day. Prop 40 could become the first tax on billionaires in history, and in the words of Six Nobel Prize-winning economists, could “…kickstart a movement to tax ultra-high-net-worth individuals in other states—and eventually at the federal level and in other countries.”

We’ve made a lot of noise about California’s Proposition 40 over the last few months. But today, with just two weeks to go until the election, we’ve turned up the volume big time and released two products—an open letter and a poll—in support of the one-time tax on Golden State billionaires.

It appears some of our allies have taken a liking to the Swiss cheese tax code that Trump and Republicans made worse with their 2025 tax law. As for us, we like to think we have a sharper palate.