"Laboratories Of Democracy": Five State Ballot Measures To Watch Today Authored by Jon Miltimore via The Daily Economy , On Tuesday night, millions of Americans will track election results to see which party controls Congress after the ballots are counted.
Far less attention will be paid to state elections, including ballot initiatives that could have far-reaching economic consequences. Here are five outcomes to watch. 1. California Proposition 40: The 'One-Time' Billionaire Wealth Tax Unlike other items on this list, most readers have likely already heard about California's proposed tax on billionaires, which would impose a "one-time" 5 percent tax on " certain covered assets " above $1 billion. (Don't ask how this wealth will be determined.