California billionaire tax proposal garners enough signatures to head to ballot

Proposal for a one-time 5% tax on billionaires in the state is opposed by Silicon Valley tech titans and Gavin NewsomThe backers of a proposal to levy a one-time tax on California billionaires say they have gathered enough signatures to place the measure on the ballot in November. The initiative has become one of the most politically contentious issues in the state over the past year, spurring tech moguls to spend t…