SAN FRANCISCO, Nov 4 - A wealth tax that progressives including US Senator Bernie Sanders had championed as an antidote for economic inequality and a potential model for the rest of the country looked headed to defeat in California, though officials were still counting votes and no major outlet had yet called the outcome. Read more at straitstimes.com.

California voters are considering a first-in-the-nation measure to tax the net worth of billionaires.

It’s a striking and historic show of unity from a notoriously hard-to-organize donor class, a POLITICO analysis shows.