New poll shows billionaire tax falling behind as election nears

Californians’ appetite for a first-in-the-nation wealth tax appears to be waning.
With less than a week before Election Day, support for Proposition 40, a proposed billionaire tax, is now under water, according to the latest poll by Public Policy Institute of California. Published Tuesday, the survey found that 46% of 1,086 likely voters support the tax, while 52% don’t.
That’s a notable change from last month, when Prop. 40 proponents held a slim 52% majority. The billionaire tax is by far the biggest and most expensive fight on the ballot. As of mid-October, wealthy people who oppose it have raised more than $205 million to fight the tax, including Google co-founder Sergey Brin, who has poured at least $102 million.
Still, Prop. 40 supporters remain undeterred. In response to the PPIC poll, Suzanne Jimenez, the chief of staff of Service Employees International Union-United Healthcare Workers West, the union behind the measure, said “large majorities of Democratic voters” continue to support it.
- Jimenez, in an email to CalMatters: “Even after months of the most controversial billionaires on the planet spending millions to spread misinformation about it, a clear majority of voters support asking about 250 billionaires to pay a modest, one-time tax to keep … healthcare affordable for millions of Californians.”
Meanwhile, a pair of related ballot measures intended to negate the billionaire tax could go either way.
Prop. 42, with 51% in support among those polled, holds onto a narrow lead. It would bar new taxes on personal property and assets and prohibit retroactive taxes. Prop. 41, which would impose limits to certain new state taxes, appears to be falling short with 48% support.
Voters seem to be more favorable on five other ballot measures. A majority of survey participants said they would vote yes on:
- Prop. 1, the $11.25 billion housing bond
- Prop. 2, which would increase the amount of tax revenue the state can put in savings
- Prop. 3, which would permanently extend an income tax for high-earning households
- Prop. 37, which would create a $25 billion fund to help homebuyers
- Prop. 38, which would dedicate $8 billion in bonds to fund immunology research
As for the governor’s race, Democratic candidate Xavier Becerra continues his lead in the polls with PPIC reporting that 61% of likely voters would vote for him, compared to 37% for Republican Steve Hilton.
We’re bringing our voter guide to life through VotingMatters events across California, in collaboration with on-the-ground partners. We’re holding two events today: In Mariposa at the Mariposa County Government Center and in Santa Barbara at the Louise Lowry Davis Center.
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California Voices
CalMatters columnist Dan Walters: A Sacramento-area community college tries to fool voters into passing a new $1.1 billion bond issue this election by saying the proposal would not increase tax rates, which is untrue.
Other things worth your time:
Inside the billionaires’ war against CA’s proposed wealth tax // New York Times (gift link)
FBI raids billionaire’s Beverly Hills mansion in connection with Eric Swalwell probe, sources say // Los Angeles Times (paywall)
Parts of CA’s coast are vanishing 70 feet at a time // San Francisco Chronicle (gift link)
Parents rack up credit card debt to pay for childcare // LAist (free)
Here’s how much your CA school district spent in arts funds // EdSource (free)
Tiny Lake Havasu City now a hot spot for CA millionaire renters // SFGATE (free)
New data center moratorium in San Diego // KPBS (free)
Voters in Sacramento suburbs shifted to the left in Trump era // Abridged (free)
Courtesy of Cal Matters