And that's why I think even if they say this is a one time thing, we all know that it won't be one time. If they get away with it, it'll become a regular thing.
As of November 30, 2025, California has not yet imposed or collected a one‑time 5% wealth tax on billionaires. What exists is a proposed ballot initiative, the 2026 Billionaire Tax Act, which would levy a one‑time 5% tax on the net worth of Californians worth over $1 billion and is currently in the signature‑gathering / qualification phase for the November 2026 ballot. (forbes.com)
News coverage and the campaign’s own materials all describe this as a proposal that still needs sufficient signatures and then voter approval before it could become law; none report that it has been enacted or that any such tax has been collected. (apnews.com)
Because the conditional trigger in the prediction (“If California successfully imposes a one‑time 5% wealth tax on billionaires and collects it”) has not occurred yet, we cannot evaluate whether the state will later repeat or extend such taxes. The prediction therefore remains too early to judge and is best classified as inconclusive at this time.