Tim Disney and George Zimmer back California 5% 'billionaire tax'
World
California is considering a new "billionaire tax" that would take 5% of billionaires' net worth.
More than 40 multimillionaires, including Tim Disney and George Zimmer, are publicly backing the idea, saying it's needed to keep public services strong as federal funding shrinks.
Groups like Patriotic Millionaires are also on board.
Brin, Schmidt spent $140 million+ opposing tax
Tech billionaires Sergey Brin and Eric Schmidt have spent more than $140 million trying to stop the proposal.
Supporters like Saikat Chakrabarti say billionaires can easily afford it and won't just pack up and leave.
Polls show people are divided: about half support the tax, while 46% oppose and 10% are undecided.