VOTE YES ON PROP 40
Vote Yes on Prop 40. Protect California healthcare, and make billionaires pay their fair share.
The facts at a glance
Prop 40’s tax applies to individuals above the billionaire wealth threshold, not to ordinary business revenue. [1]
Healthcare cuts can cause job losses that spread beyond hospitals and clinics.
The measure includes rules for private-company wealth and payment over time.
Prop 40 is not a tax on ordinary businesses
The tax is based on the net worth of people above the measure’s billionaire threshold. A restaurant, store, small business, or startup is not taxed under Prop 40 simply because it operates in California.
A business owner can be personally affected only if that person meets the measure’s billionaire wealth rules.
Healthcare is part of the business economy
When hospitals and clinics cut workers, the effect does not stop at the hospital door. Workers spend less, suppliers lose customers, and local businesses feel the hit. UC Berkeley researchers have modeled this wider job effect from major Medi-Cal cuts. [4]
The law accounts for wealth held in companies
Billionaires often hold wealth in company shares instead of cash. Prop 40 includes valuation rules for private businesses, and its expert drafters describe installment and qualifying deferral options for hard-to-sell assets.
A stronger California needs both healthcare and entrepreneurship
The choice is not “business or healthcare.” California depends on both. Prop 40 is designed to raise healthcare money from extraordinary personal wealth while leaving ordinary businesses outside the tax.
Vote Yes on Prop 40.
Protect California healthcare, and make billionaires pay their fair share.
SOURCES
Check the evidence
01Proposition 40: text of proposed laws
The proposed law: who pays, covered wealth, valuation, and payment rules.
02Proposition 40: official title and summary
The official summary of the billionaire threshold and main tax design.
03The California Billionaire Tax: an expert report
The drafters’ analysis of revenue, payment options, and economic questions.
04California Could Lose Up to 217,000 Jobs if Congress Cuts Medicaid
UC Berkeley analysis of how healthcare funding cuts can affect jobs inside and outside healthcare.
About this page
This page is published by the Yes on 40 campaign. It makes the case for the measure using the sources linked above. Government agencies, universities, and researchers cited here do not necessarily endorse Prop 40.