California appears to have rejected the proposed "super-rich tax."

Die PresseParty-aligned🔒ProgressiveNov 4

US voters in California rejected Proposition 40, a proposed one-time 5% wealth tax targeting approximately 200 billionaires, according to reports from US media outlets like the Los Angeles Times. The measure, backed by the state Democratic Party, various unions, and Senator Bernie Sanders, aimed to direct revenue toward the Medicare system for seniors and low-income residents. Opponents, including prominent tech figures such as Elon Musk, Sergey Brin, and Peter Thiel, raised over $200 million for a counter-campaign against the proposal. Internal divisions existed among supporters, with outgoing Governor Gavin Newsom publicly opposing the measure. David Walch of the Austrian NGO Attac attributed the defeat to the significant financial influence of big tech billionaires, arguing that their spending heavily skewed the public discourse.

Bias read (Progressive): The inclusion of a quote from a globalization-critical NGO explicitly blaming billionaire financial power for distorting democracy frames the outcome through a progressive lens rather than neutrally reporting the vote result.

Der StandardIndependentProgressiveNov 2

Voters in California will decide on Proposition 40 during the upcoming midterm elections, which proposes a one-time wealth tax targeting billionaires residing in the state. The measure was initiated by the SEIU-United Healthcare Workers union to offset projected cuts to Medicaid resulting from federal tax legislation passed in 2025. Economists Gabriel Zucman and Emmanuel Saez are identified as the primary architects of the proposal, which they describe as a necessary step to limit oligarchic influence on democracy. The initiative has garnered support from several Nobel laureates in economics, including Joseph Stiglitz and Paul Krugman, while critics frame it as an unfair burden on wealthy individuals. Approximately 200 billionaires would be affected by the tax, with their combined assets estimated at $2.3 trillion.

Bias read (Progressive): The headline frames the issue as 'necessary' rather than 'extortion', and the text emphasizes democratic concerns over billionaire power alongside expert endorsements from progressive economists.