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Posted on 06/26/2026 10:51:11 AM PDT by DFG
California Gov. Gavin Newsom proposed a tax on America’s billionaires — while remaining in steadfast opposition to the very same levy on the wealthiest in his state.
After California’s own billionaires tax was approved for the November ballot, Newsom announced Friday that he supports a national billionaires tax “that ensures the people at the very top pay at least the tax rate their own workers pay.”
Newsom has long opposed the proposed California measure, which would hit the state’s wealthiest with a 5% tax to cover healthcare costs in the state.
He failed to broker a last-minute deal to keep the controversial tax off the ballot, setting up what could become one of the nation’s most expensive and politically explosive ballot fights over taxing the ultra-wealthy.
“Last night, it became certain that a wealth tax would be placed on the November ballot in California. I’m voting no,” Newsom said on Friday, adding that “the fight to make the wealthiest Americans pay more in taxes is not one we should be fighting state by state.”
“The fight belongs at the federal level, where this broken system was created in the first place,” he said.
Newsom added that he opposes the state tax “because this measure dedicates almost all of the revenue it raises to a single category of state spending.”
He said the tax will not provide public schools, housing, childcare, public safety workers or public universities with more funding.
“This is not how we should set California’s budget priorities,” he said. “We can’t let a single advocacy organization, however well-intentioned, write the state’s tax code on its own terms.”
(Excerpt) Read more at nypost.com ...
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Newscum said today that he supports a national billionaire tax. He has opposed a state billionaire tax in California.
Notice no taxes on millionaires like himself.
What a great idea! Once those greedy billionaire’s pay their “fair share,” the country will have money to pay for all the Dems’ social spending programs and we’ll be living in a paradise!!!
And he wrote this long screed on this subject because.....
because why.......???
I suspect he’s running for president and wants to set himself out as some policy wonk and stake out positions on issues of the day.
And he’s trying to show he’s some “reasonable” Democrat by opposing this billionaire’s tax in his own state.
A ruling class who grt rich in politics.
A middle class of government employees.
Every other citizen on welfare.
A working class of illegals. And it's important to keep them illegal as a means of control.
He wants a national tax rather than just a state one where the wealthy can flee from. Sure they can leave the US completely but it’s a much bigger jump than shifting to another state.
I would trust the word of a used car saleaman before I would a word Newscum speaks.
At least until the billionaires figure out how to hide their wealth.
Which might take a couple of years, if we're lucky.
Tax avoidance is like breathing to the wealthy. They hire the very best people to do it for them.
CORRECT-—NO ESCAPE FROM CALIF OVERTAXING
Deceit.
It's the Dems' middle name.
It's Newsom's way of life.
Would I care to buy a billionaire’s vastly overpriced stock off a bunch of Communist thieves?
Would a doctor who might find nine families living in his house care to buy the stock?
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