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Horrible billionaires tax defeated in liberal California

by Robby Soave, opinion contributor - 11/05/26 1:06 PM ET

by Robby Soave, opinion contributor - 11/05/26 1:06 PM ET

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Well, as I said yesterday, there’s no way to sugarcoat the results of the midterms elections: it was a bloodbath for Republican candidates and a major triumph for Democrats all over the electoral map. But it was not necessarily a triumph for Democratic ideas. Their candidates won absolutely everywhere, even in deep-red states like Texas and Kansas, but their policy proposals did not fare as well.

Take, for instance, the absolutely awful billionaires tax placed on the California ballot by labor groups who were desperate to wring even more money out of Silicon Valley’s successful tech entrepreneurs. That initiative was defeated!…