Patriotic Millionaires is releasing a YouGov poll on California millionaires that assessed their attitudes towards tax and wealth—and also Prop 40, the one-time, 5% tax on billionaires living in the state as of January 1, 2026.
Key findings from the YouGov poll include:
- 57% of California millionaires support Prop 40
- 54% support Prop 3, which would permanently extend higher marginal income tax rates on high earners set to expire in 2031, made possible by Prop 30 in 2012 and Prop 55 in 2016
- 60% support higher taxes on those with extreme wealth if they were earmarked for state health and education programs
- 72% think that tax is a vital part of democracy
- 67% think it’s patriotic to pay your taxes
- 56% said they would not leave California if they were asked to pay a little more in taxes
- 53% think all states should introduce wealth taxes to prevent disparities between states
- 78% agree billionaires have too much influence in state elections