John is joined by combative California union boss Dave Regan to discuss Proposition 40, his state’s controversial ballot measure to levy a one-time, 5 percent wealth tax on its resident billionaires. Regan, Prop 40's principal architect and advocate, explains its economic benefits, political challenges, and prospects for passage. He also disses the initiative's opponents—from Silicon Valley billionaires such as Sergey Brin to Governor Gavin Newsom and his likely successor, Xavier Becerra—arguing that “they think the rest of us are stupid.”