Wall Street Journal: “If Prop. 40 passes, it could represent the kind of antiwealth, antitech populism that becomes a dominant force in the 2028 election. Democrats aren’t the only ones talking about taking a tougher stance on the wealthy in 2028. Some populist Republicans have been criticizing CEO pay and corporate behavior, and a strong vote in favor of the tax (albeit, in California) could encourage more of this.”“If the measure is defeated, however, it could create tension between centrist Democrats and the Democratic Socialists of America, as they battle for the party’s steering wheel heading into the 2028 campaigns.”