Americans really want wealth taxes. So far, they're not really succeeding. The latest tax-the-rich proposal to make waves is in California, where billionaires like Mark Zuckerberg and Jensen Huang would pay a one-time 5% tax on their wealth. The tax would be based on their net worth at the end of 2026, and would hit any billionaires who were California residents at the start of 2026. Already, the proposal has prompted alarm among the ultrawealthy and led to businesses moving out of the state