Billionaire tax on California ballot causing a stir

California voters are deciding on California Proposition 40, a proposed measure on the ballot that would enact the first-ever state-level wealth tax targeting billionaires.  Supporters argue that the superrich have accumulated trillions in wealth while paying little relative income tax. Opponents warn that the tax will trigger an exodus of billionaires and high-earners, potentially lowering long-term state income tax revenues and harming California's economy.