Californians vote on Proposition 40, a one-time 5% tax on billionaires that has split Democrats and drawn heavy spending
Proposition 40 would impose a one-time 5% tax on Californians with net worth above $1bn (The Independent). It has split Democrats and drawn heavy spending from the ultra-rich. The New York Post says it trailed 56% to 44% with roughly half the ballots counted shortly after 9pm on Tuesday.
Our outlet list is not evenly split: about 50% left-rated, 15% centre and 35% right-rated, so raw splits lean left by construction. Blindspots are tested against each side's own share. About our sample.
Left 0 · Centre-left 4 · Centre 2 · Centre-right 3 · Right 2
ContextSources by leanVideoDeep diveFollow the moneyMore coverage
How each side framed it
Right-leaning outlets
'California's controversial billionaire tax looks headed for defeat' (New York Post); 'California's Potential Billionaire Tax Has Already Cost The State' (Daily Caller).
Centre outlets
Centre-rated outlets headline it: “California Democrats divided on billionaire tax” (The Hill).
Left-leaning outlets
'California's mega-rich have outspent foes 250-1 to sink 'billionaire tax'' (The Washington Post); 'The 'poison pill' ballot measure that could kill the California billionaire tax' (CNBC).
Context
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Sources by lean
Balanced: the same number of articles from the left, the centre and the right (up to 3 each). The bar above still counts every rated outlet we found. Bias and factual ratings come from Media Bias/Fact Check. How we balance · All ratings.
Centre 1
- The Hill
California Democrats divided on billionaire tax (paywalled or blocks bots)
Showing 1 from each side of 11 rated outlets (L 4 / C 2 / R 5). Capped at 1 because that is all we found on the thinnest side. More coverage
Video
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Deep dive
A short prompt for thinking it through. We write a fuller side-by-side deep dive for the day's biggest stories.
The paradox: Opponents say it drives tycoons from the state; supporters say it would replace federal cuts in healthcare funding (France 24).
What each side may be protecting: Supporters: public health funding and fairness. Opponents: investment and the state's tax base.
A question to hold: Shared question: how should California replace federal health funding if not through this tax?
Try it: open one right and one left article in Sources by lean and note what each takes for granted.
Follow the money
Not yet researched. We haven't yet looked at who gains or loses financially from this story, or who funds the main voices on each side. When we do, we check company filings, the Electoral Commission donations register, lobbying registers, annual reports, InfluenceMap and OpenSecrets, and we apply the same checks to every side. How we follow the money.
Who owns or funds the outlets covering this story (9 outlets)
| Outlet | Lean | Ownership & funding (MBFC) |
|---|---|---|
| Associated Press | Centre-left | The Associated Press (AP) is a nonprofit news cooperative with a profit of $1.6 million in 2016. It also sells content to other media organizations. According to an article titled “ AP reports loss on one-time accounting charges,” t he Associated Press lost $74 million in 2017, and it states the reason as “mostly due to one-time accounting charges related to the federal tax overhaul passed late last year.” source |
| CNBC | Centre-left | CNBC is owned by NBC Universal, which Comcast owns. Comcast’s Chairman and Chief Executive Officer (CEO) is Brian L. Roberts, founded by his father, Ralph J. source |
| The Independent | Centre-left | The Independent is owned by Independent Print Limited, a company owned by the Lebedev family (Alexander Lebedev and his son Evgeny Lebedev). In 2017, Saudi Businessman Sultan Muhammad Abuljadayel bought a 30% stake in the Independent online newspaper. Advertising and subscription generate revenue for the paper..push({}); source |
| Washington Post | Centre-left | In 2013, Amazon CEO Jeff Bezos bought The Washington Post for $250 million. Bezos is a frequent target of Trump, who has accused the businessman of using the Postal System as its “ Delivery Boy. ” The newspaper’s executive editor, Martin Baron, said Jeff Bezos, who founded Amazon, is not involved in its news coverage. source |
| The Hill | Centre | In 2021, The Hill was purchased by Nexstar, which owns around 200 TV stations and media outlets nationwide. The founder, chairman, president, and CEO of Nexstar is Perry A. Sook. source |
| CBS News | Centre-right | CBS News is owned by Paramount Global, which was formerly controlled by National Amusements, Inc., the holding company of the Redstone family. In 2025, Paramount entered into a merger agreement with Skydance Media, effectively ending the Redstones’ majority control. CBS News generates revenue primarily through advertising and affiliate broadcasting fees..push({}); source |
| New York Post | Centre-right | The New York Post is owned by Rupert Murdoch’s News Corp, which owns many conservative/sensational media outlets worldwide. The paper is funded through advertising, subscriptions, and newsstand sales. source |
| Daily Caller | Right | No ownership data found |
| GB News | Right | GB News lacks transparency as they do not disclose ownership. A search reveals that London-based ALL Perspectives Ltd owns GB News. According to Reuters, the television channel “secured millions of dollars from investors such as Discovery Inc, Legatum and hedge fund manager Paul Marshall. source |