California voters are likely to put the kibosh on the state’s controversial proposed “Billionaire Tax,” according to a poll exclusively obtained by The Post.
The survey conducted by David Binder Research found that the proposed wealth-tax ballot measure initially had a slim majority of support, with 55% of voters saying they liked the idea of the one-time 5% tax on California residents worth more than $1 billion.
But support has since collapsed to just 41% of voters, while those opposed surged to 53% — after respondents heard arguments from both sides, the pollsters said.
“It’s terribly drafted, unworkable, illegal and would have hugely negative consequences to the state’s economy,” a source with knowledge of the poll told The Post on Monday, referring to the legislation.
“It’s gambling a potential one-time revenue bump in exchange for massive ongoing losses, which would force cuts to schools and healthcare, and leave regular taxpayers on the hook to make up the difference.”
Chamath Palihapitiya, a venture capitalist and entrepreneur who co-hosts the ALl In podcast, blasted out a tweet Saturday claiming California has lost $1 trillion in wealth in the past month alone as billionaires have fled the state to shield their assets.
“We had $2T of billionaire wealth just a few weeks ago,” Palihapitiya wrote on X.
“Now, 50% of that wealth has left — taking their income tax revenue, sales tax revenue, real estate tax revenue and all their staffs (and their salaries and income taxes) with them.”
