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California Governor Newsom proposes national billionaires’ tax
Posted
June 26, 2026
Views
2,707
Likes
226
Comments
18
Engagement
9.01%
June 26, 2026
2,707
226
18
9.01%
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0:49Now PlayingCalifornia Governor Gavin Newsom is making waves on the national stage, calling for a major federal "economic reset"—including a national billionaires' tax, tightening inheritance laws, and creating a National Public Equity Fund for AI.
But the proposal comes with a fascinating political paradox. Newsom is laying out this progressive platform just as he fiercely opposes a local initiative to tax California's billionaires. His rationale? He argues that because wealth is highly movable, state-level taxes just drive the ultra-wealthy to move away, meaning a wealth tax only works if it's enforced nationwide.
#HookWorld #GavinNewsom #BillionairesTax #TaxTheRich
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