California ballot showdown: wealth tax hangs by a thread

A PPIC poll shows Prop 40, a one-time 5% wealth tax on billionaire assets, leading narrowly at 52%, with Prop 41 and 42 to nullify it at 51–54%; Prop 3 would permanently extend the 2012 top-earner tax and is at 58%, offering a clearer path for supporters amid a costly, multi-front campaign funded by billionaire opponents totaling around $100 million in ads.