Research shows that past tax increases by states have not led to wealthy residents leaving. California Gov. Gavin Newsom (D) said he’ll vote “no” on a progressive-backed November proposal to levy a one-time tax on billionaires in the state to counter federal cuts to healthcare for low-income people. “I understand the anxiety driving the wealth tax proposal in California,” Newsom posted on his Substack Friday, a day after the proposal officially qualified for the ballot. “But I’m voting no