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'It's Time To End The...': Gavin Newsom Pushes Bold Billionaires Tax, Slams Broken Economy | US News
Posted
June 26, 2026
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2:37Now PlayingUS News: California Governor Gavin Newsom called for a sweeping economic reset, arguing that America's tax system overwhelmingly benefits the ultra-wealthy while working families struggle with stagnant wages and soaring living costs. In a forceful speech, He proposed a national billionaires tax, higher corporate taxes, closing offshore tax loopholes, ending tax-free billionaire borrowing strategies, and creating a national public equity fund tied to AI-driven growth. He warned that wealth inequality has reached historic levels, with 10% of Americans owning two-thirds of the nation's wealth, and said trickle-down economics has failed. Framing his proposal as a new social contract, Newsom urged lawmakers to 'democratize the American economy' and ensure the wealthiest Americans pay their fair share.
#usnews #gavinnewsom #billionaires #california
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