After Newsom Couldn’t Stop It, California Braces for Billionaire Tax Brawl
3 Articles
3 Articles
Newsom’s wealth tax: Target Musk and Bezos, hand the moon to China
Recently, Gov. Gavin Newsom (D-CA) proposed a national wealth tax. The idea is that it is a bad thing that a few billionaires (and one trillionaire) possess all of those riches that they acquired by building things and providing needed services. So, Newsom took to X (owned by Elon Musk, one of his targets) and proposed that a certain percentage (unspecified) of rich people’s wealth should be seized by the government every year. Many commentators…
California Governor Newson, who has publicly opposed California's billionaire tax proposal on multiple occasions, put forward a federal billionaire tax idea on June 26, advocating for a minimum tax rate for those with a net worth of more than $100 million.
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