Wednesday, October 28, 2026 The Patriot Focus

The Patriot Focus

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Politics

California’s proposed 5% billionaire levy trails in late-campaign poll

A new survey puts support for Proposition 40 at 46%, against 43% opposition, as California voters begin casting ballots. A high-profile campaign push has yet to move the measure beyond majority support.

California’s proposed 5% billionaire levy trails in late-campaign poll
A proposed one-time tax on billionaires’ assets is still short of majority support among likely California voters, according to a poll released Oct. 19 as ballots were being cast in the state. The Citrin-POLITICO survey found 46% support for Proposition 40 and 43% opposition. Those figures were essentially unchanged from a month earlier, despite rallies and other efforts by supporters, including Sen. Bernie Sanders, to build momentum for the measure. Proposition 40 would impose a one-time tax of 5% on billionaires’ assets. Sanders appeared at a Los Angeles rally supporting the proposal on Oct. 5. Jon Cohen, founder and CEO of TrueDot, the firm that conducted the poll, said voters’ general belief that billionaires should pay more does not necessarily translate into backing this particular tax. Remaining below 50% late in a campaign is a warning sign for ballot-measure proponents, Cohen said. The numbers point to a challenge for the campaign: turning broad sentiment about wealth inequality into support for a specific tax proposal. The poll results do not determine the measure’s outcome, but show it entering the final stretch without a clear majority behind it.

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