California Gov. Gavin Newsom called for a nationwide tax on billionaires as part of a broader “economic reset for America.”
Newsom, who is considered to be a 2028 presidential contender, also reiterated his opposition to a state-level wealth tax that Californians will vote on in November.
He also called for creating a “national public equity fund” to help “ensure every American owns a stake in the future being built by AI.”
“I can’t tax billionaires in California, because they’d leave California”
“I can’t tax billionaires nationally, because they’d leave the nation”
“I can’t tax billionaires globally, because they’d leave the planet”
There will never be a finish line in front of which these billionaire-class guardians won’t shuffle their feet, nor a goalpost that they won’t carry further. It’s some real “I’ll release my taxes after I get elected” energy.