Poll on billionaire tax has stark warning for Gavin Newsom’s presidential chances

California Gov. Gavin Newsom may have a conundrum on his hands: continue to fight a proposed tax on billionaires or face the wrath of lefty voters he needs for a 2028 presidential run, according to new polling results announced Tuesday.

The polling, done by Democratic polling firm Impact Research for left-wing coalition Tax the Greedy Billionaires, claims that if Newsom continues to oppose raising taxes on billionaires, his favorability rating nationwide tanks by 28 points with 40% of voters less favorable.

Among Democratic primary voters, a whopping 56% of voters would view him less favorably, while among California voters overall, 44% would.

“This polling makes it clear that working people see billionaire control as a direct tax on their lives, driving up the cost of everything from housing and healthcare to childcare,” said Igor Volsky, campaign director for the Tax the Greedy group, in a statement.

“California Governor Gavin Newsom is paying a measurable political price for his refusal to take on billionaires,” the group went on to say.

Newsom has infuriated some progressives for actively campaigning against a 5% tax on billionaires proposed by labor union SEIU-United Healthcare Workers West. The proposal, which has yet to qualify for the November ballot, would move funding to healthcare and education programs threatened by federal funding cuts, according to proponents.

The governor has insisted that the tax is only a temporary fix that would have major ramifications for the state, such as stifling innovation and forcing companies to flee. Already, notable wealthy individuals have fled California, including Google co-founder Sergey Brin and former Uber CEO Travis Kalanick.

“This will be defeated — there’s no question in my mind,” Newsom told the New York Times. “I’ll do what I have to do to protect the state.”

A number of wealthy Californians, including Brin, are pouring money into groups to fight the tax proposal should it come onto the ballot this year.

However, polls have shown up to 60% California voters support the idea of a wealth tax, even if they admit that some businesses will flee and cut jobs as a result.

The new poll by Impact Research also suggests that sentiment is true nationwide. Around 62% of voters want a candidate who “supports” raising taxes on billionaires, a stat which rises to 83% when asking only Democratic primary voters.

Tax the Greedy Billionaires is launching a five-figure ad campaign in early primary states targeting Newsom, Politico reported, as it seeks to nudge him closer toward the stances of U.S. Sen. Bernie Sanders, who was in California to campaign for the tax.

Sanders has a higher favorability rating than Newsom in California, the poll noted.

The poll was conducted between February 20 to 25 on 800 registered voters nationwide, with an oversampling of 600 voters in California.

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