Supporters of the proposed billionaire tax say it is one of the few ways the state can provide health care for its most vulnerable. On social media, some wealthy Californians who oppose the wealth tax faced off against Democratic politicians and labor unions. “We believe billionaires can pay a modest wealth tax so working-class Californians have the Medicaid.”The Trump administration did not respond to requests for comment. He reiterated his opposition when asked about the proposed billionaires’ tax in early December. “The backers of this proposed initiative to tax California billionaires would have their work cut out for them,” said Kousser at UC San Diego.

Source: Los Angeles Times January 05, 2026 21:05 UTC