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60% of Californians Back Wealth Tax Despite Job Fears

2/2/2026

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Story summary
  • A poll finds 60% of California voters support a billionaire wealth tax proposal, even as they acknowledge it may drive businesses out of the state.
  • John Thomas, a Republican strategist, notes voters prioritize cost of living and public services over billionaire interests.
  • Fifty-two percent of likely voters believe the tax will lead to job losses.
  • Critics, including Governor Gavin Newsom, warn the retroactive proposal could backfire.