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Dave Regan, the president of the prominent California union S.E.I.U.-United Healthcare Workers West, joins Tyler Foggatt to discuss Proposition 40, a ballot measure that would impose a one-time, five-per-cent tax on the net worth of the state’s billionaires. They talk about the origins of the initiative—which came in response to cuts to health care from Donald Trump’s One Big Beautiful Bill Act—and how the political fight over the proposition fits into the broader wave of populist politics and a growing appetite for challenging the wealthy. They also explore the opposition from a handful of wealthy Silicon Valley figures, who have spent more than a hundred million dollars to defeat the measure. California’s governor, Gavin Newsom, and some health-care organizations have expressed concerns that the tax could drive the ultra-wealthy out of the state and would fail to provide a long-term funding solution for public services. Whether the ballot measure fails or passes, does the fight over Proposition 40 signal a broader shift toward more ambitious efforts to tax the wealthy?
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