California voters likely to oppose proposed billionaires' tax, poll shows

A David Binder Research poll obtained by The Post found initial support for a one-time 5% tax on California residents worth more than $1 billion fell from 55% to 41% after arguments from both sides, while opposition rose to 53%.

California voters appear likely to reject a proposed one-time wealth levy on ultra-rich residents, according to a poll obtained by The Post. The survey was conducted by David Binder Research and asked about a one-time 5% tax on California residents with more than $1 billion in assets. Initial support measured 55%, but after respondents heard arguments from both sides support fell to 41% while opposition rose to 53%. A source familiar with the poll described the measure as poorly drafted and said it could have negative effects on the state's economy. Venture capitalist Chamath Palihapitiya posted on X claiming roughly $1 trillion in billionaire wealth left the state in the past month as some high-wealth residents departed. Key findings: - The poll was conducted by David Binder Research and was obtained by The Post. - The proposal described in the survey is a one-time 5% tax on residents worth more than $1 billion. - Initial support was 55%; after hearing arguments support dropped to 41% and opposition rose to 53%. - A source familiar with the poll characterized the measure as poorly drafted and warned of economic consequences. - Chamath Palihapitiya tweeted that about $1 trillion in billionaire wealth left California in the past month. Summary: The poll's decline in support indicates reduced backing among voters for the proposed measure. Undetermined at this time.