A wave of texts and mailers warning that California politicians are targeting retirement savings for taxation has sparked confusion among voters, but experts say the claims mischaracterize a broader fight over competing ballot initiatives.

At issue is a proposed measure called the Retirement and Personal Savings Protection Act, one of several initiatives tied to an emerging political battle over a potential billionaire’s tax in California.

Some Californians recently received messages framed as urgent warnings. One “URGENT” text message reads: “Even though California has some of the highest taxes in the country, Sacramento politicians and special interests are still pushing to pass details ⇒

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