00:00Polls sometimes produce amusing results in California, and the latest example is a poll on the so-called billionaire tax,
00:06Proposition 40.
00:07The Public Policy Institute of California found that a majority of likely voters would pass Proposition 40 if the election
00:13were held today.
00:14But it also found that a majority of likely voters would pass Propositions 41 and 42, and each of those
00:20would cancel out the billionaire tax.
00:22They were specifically put on the ballot to do that. They are poison pills placed there by Google co-founder
00:27Sergey Brin and his group, Building a Better California.
00:30Proposition 41 would count the billionaire tax toward the spending limit in California.
00:35There is actually such a thing as a spending limit on a per capita basis.
00:39It would also require audits of any state programs that the billionaire tax would be funding.
00:43That would make the billionaire tax much harder to implement.
00:45Proposition 42 also bans the taxation of personal property and bans retroactive taxation.
00:50So these two propositions would make the billionaire tax impossible to implement, even if it did pass.
00:57They also have specific language nullifying the billionaire tax.
01:00So what is going on? Why are Californians supporting both the billionaire tax and the two poison pills that would
01:06end it?
01:06And the answer may simply be good marketing on both sides.
01:09The idea of billionaires paying their fair share is popular in a deep blue state like California.
01:14But Propositions 41 and 42 are also crafted to deliver voters things that they want, like transparency and limited spending,
01:23responsible spending.
01:24It remains to be seen which of these two will prevail in November.
01:28But for now, the ballot and the polls are producing some very interesting results.
01:33So stay tuned to The California Post.
01:35I'm Joel Pollack.
01:36I'm Joel Pollack.
01:36I'm Joel Pollack.
01:36I'm Joel Pollack.
01:36I'm Joel Pollack.
01:36I'm Joel Pollack.
01:36I'm Joel Pollack.
01:37I'm Joel Pollack.
01:37I'm Joel Pollack.
01:37I'm Joel Pollack.
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