Sure, California voters overwhelmingly backed Democrats. But they refused to punish success.

California voters showed their pragmatic side on Election Day by rejecting Proposition 40, the so-called “billionaire tax.”The tax was an attempt to seize 5% of the wealth of the richest Californians.It was pushed by SEIU-United Healthcare Workers West president Dave Regan, in a naked cash grab to help his union’s members.The biggest news, opinion and culture shaping California right now.

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Never miss a story Regan, named by The California Post as the “biggest election loser” in the state, blew $47 million on Proposition 40 and another failed ballot measure that was designed to intimidate community health clinics.But the billionaire tax had some big-name supporters.Socialist Sen.Bernie Sanders of Vermont campaigned hard for the wealth tax, which he wants to impose nationwide as well.California Post News: Facebook, Instagram, TikTok, X, YouTube, WhatsApp, LinkedInCalifornia Post Sports Facebook, Instagram, TikTok, YouTube, XCalifornia Post Opinion California Post Newsletters: Sign up here!California Post App: Download here!Home delivery: Sign up here!Page Six Hollywood: Sign up here!Silicon Valley Rep.

Ro Khanna, who is almost certain to run for the Democratic presidential nomination, also fought for Proposition 40 — even though it would punish the biggest job creators in his own district.Luckily, California voters saw right through it.They understood that the billionaire tax was driving California’s entrepreneurs to leave.They knew that it would keep investors away from California companies. They heard the warnings of Texas billionaire — and Democrat — Mark Cuban: “You can bet if I’m investing in a multibillion-dollar startup, I’m asking them to move from California first.”Voters got the message.Supporters of Proposition 40 complained about the hundreds of millions of dollars that Google...