California's proposed billionaire tax: How does it add up?

When California voters head to the polls next month, they'll be asked whether to adopt a new proposal that calls for billionaires to be taxed like never before. Jo Ling Kent shares what Proposition 40 is all about:
"There's never been a proposal like this anywhere in the world, so it's a novel idea," said healthcare workers union leader Dave Regan . "We are facing an emergency."
An emergency that began, according to Regan, with President Trump's so-called "One Big Beautiful Bill," which includes cuts targeting federal funds to Medicaid over the next few years.
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