SACRAMENTO, Calif. — As populist candidates and anti-billionaire sentiment soar nationally, a campaign to tax the assets of California billionaires is failing.
Opponents bombard the airwaves with ads portraying the tax as an economic wrecking ball, and the measure’s poll numbers continue to erode. Several surveys last month found he musters only a narrow majority, with support in the mid-40s — a warning sign for a campaign that needs to broaden its coalition.
Veteran of ballot initiatives Chris Lehman pointed out a telling change: independents now oppose the wealth tax while supporting a separate tax measure for public schools. This, he said, “should have sounded the alarm on all planets.”
“The polling trends I’ve seen all look bad on the yes side,” said Lehmanwho doesn’t work for either campaign. “They all look good for the no side.”
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