A new poll puts support for California’s proposed billionaire tax below 50%, even as a separate survey found that 76% of likely voters ages 18 to 29 support the measure, raising the stakes for youth turnout.A new Citrin-POLITICO poll found that 46% of likely voters support California’s Propositi on 40, which would impose a one-time 5% tax on the net worth of the state’s 200 billionaires, while 43% oppose it, leaving the measure short of majority support as ballots arrive, according to Politico.As CalMatters reports, in a separate September survey by the Public Policy Institute of California, 76% of likely voters ages 18 to 29 reportedly supported the tax, compared with 59% of middle-aged voters and 36% of those 55 and older. However, more young voters will need to show up to the polls. Although Gen Z accounts for 30% of California’s adult population, they represent only 21% of likely voters — compared to adults 55 and older, who make up 36% of the adult population and nearly 50% of expected voters.National polling also suggests younger Americans are also more likely than older generations to favor taxing the wealthy. A September CBS/YouGov poll, cited by The Hill, found that 69% of respondents under 30 favored candidates who support raising taxes on wealthy Americans, compared with 59% of those ages 30 to 44 and 55% of respondents ages 45 and older.Federal Reserve data shows that the US’s oldest residents hold roughly twice as much of their share of the nation than they did in the ‘80s, while the share held by the youngest residents has been cut in half.“I think it’s pretty obvious that older people tend to own property or tend to be wealthier than Gen Z,” Stanley Shi, a 19-year-old UC Irvine student, told CalMatters. “Meanwhile, I own nothing… So I’m obviously going to be in favor of a tax that will never threaten to touch me.”The measure comes as younger voters express frustration with the pace of economic change and their ability to influence government. Per the Hill, nationally, just 21% of young people believe the American Dream is achievable, reportedly down from 50% a decade ago, according to figures cited by Fortune. Considering the economic challenges younger Americans have faced, including the COVID-19 pandemic, student debt, and housing shortages, it's not surprising they find higher taxes on the wealthy more appealing.That frustration does not necessarily translate into support for Democratic candidates. In California's governor's race, Politico's poll found that 34% of Gen Z respondents viewed Democratic candidate Xavier Becerra favorably, while 39% viewed him unfavorably. Republican rival Steve Hilton fared worse, with 57% of young respondents viewing him unfavorably, as CalMatters reports.Young voters also differ sharply from older Californians on Proposition 39, which would require government-issued identification to vote. Just 27% of likely voters ages 18 to 29 support the measure, compared with 46% of voters ages 50 to 64, according to UC Berkeley's Institute of Governmental Studies.Carla Fuentes, president of the Los Angeles County Young Democrats and a board member of the League of Women Voters, told CalMatters the proposal could discourage participation among people who face barriers to obtaining identification, including low-income voters, students, Native American communities, and women whose names have changed through marriage or divorce.“I think the idea, the fundamental concept that voting is kind of sacred and voting should be protected, is right,” Fuentes said, speaking CalMatters. “Do I think that this is the way to accomplish that? No.” Despite their differences on individual issues, young voters across the political spectrum have expressed frustration with California's leadership. Jake Krepps, a 21-year-old Republican student at San Diego State University, described the state government's performance as “Terrible,” reflecting a broader dissatisfaction with elected officials among younger Californians.The wealth tax faces a challenge beyond turnout. Although a narrow majority of likely voters supported Proposition 40 in the Public Policy Institute of California’s September survey, two competing ballot measures could undermine it. Propositions 41 and 42 would restrict new taxes, and either could potentially block the wealth tax if it receives more yes votes than Proposition 40.Previously: ‘Billionaire Tax’ Qualifies For November Ballot, and One Local Billionaire Says He Supports It ...read more read less