California’s tax measure (Proposition 40) failed. My colleague Darien Shanske was one of the architects of the initiative. Law professor Allison Anna Tait writes for The Conversation that “[d]espite Proposition 40’s failure, I think it’s important to observe that many Americans expressed support during the midterms for hiking income taxes on the rich, and to a lesser extent, taxes on the second – or third or fourth – homes the very wealthy possess.” Check out her analysis.
