https://www.wnd.com/2026/05/bait-switch-californias-billionaire-tax-could-reach-far/
"The measure would impose a 5 percent tax on the total net worth of California residents worth more than $1 billion as of Jan. 1, 2026. Buried in the fine print is a provision allowing the California legislature to expand the tax — lowering the threshold, adding asset categories — by simple majority vote, without voter approval..."