Gavin Newsom opposes a California wealth tax. He's proposing a national tax

https://www.cnn.com/2026/06/26/politics/gavin-newsom-billionaire-tax-california

by Bender • 25 days ago

4 4 25 days ago

Bender• 25 days ago

Full Title: Gavin Newsom opposes a California wealth tax. He’s proposing a national billionaire tax instead

al_borland• 25 days ago

Newsom says his idea comes out of wanting to create a bulwark against how artificial intelligence will reshape the economy, also proposing what he calls a “national public equity fund” to give every American, rather than just tech companies and investors, a share in the wealth likely to be produced.

Sounds like he’s claiming Andrew Yang’s ideas as his own. That was the basis for his run in 2020. Sanders also brought it up recently.

Of course, this assumes AI ends up having tangible economic value. That’s a question it seems we’re still trying to answer.

misterinfo• 25 days ago

Andrew Yang ahead of the game with the Universal Basic Income.

DivingForGold• 25 days ago

Of course he is, because a national tax would virtually eliminate all the wealthy fat cats leaving his state now ...

Gavin Newsom opposes a California wealth tax. He's proposing a national tax

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