In November, Californians will vote on a one-off 5% levy on residents worth more than $1bn. The union-backed plan could raise $100bn, more than enough to replace federal healthcare funding stripped away by Donald Trump’s One Big Beautiful Bill Act. About 200 very rich people would pay. But the referendum is becoming a test of whether extreme wealth can buy the political power to defeat a popular redistributive policy. Google co-founder Sergey Brin has already spent $100m backing opposition to the tax – a fraction of the $13bn bill he could face. Other billionaires are joining him. Whether voters can impose costs on the super-rich once their fortunes are big enough to shape the political process is now an open question. That alone should trouble any democracy.

It’s a long way from Mr Brin’s west coast lair of Mountain View to Andy Burnham’s Makerfield constituency. But the........

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