Not only has Gov. Gavin Newsom vocally opposed the proposed California billionaire tax, but he also wants to prevent the state from ever passing a wealth tax in the future.
On Friday he endorsed Proposition 42, a ballot measure that would cancel out Proposition 40, the proposed billionaire tax. Prop. 42 would prohibit retroactive taxes like the one-time 5% tax on assets that would apply to any billionaire who lived in California on Jan. 1, 2026 if Prop. 40 passes.
But Prop. 42, funded and placed on the ballot by billionaire and Google co-founder Sergey Brin to defeat the billionaire tax, also would go further, by banning any new taxes on personal property.
That includes pensions and 401K accounts before retirees start drawing retirement income from them. It also includes other investments, financial assets, business holdings, art collections and all other forms of personal wealth that would be affected by the billionaire tax or any future wealth tax.
Newsom’s decision to support Prop. 42 runs counter to his own Democratic Party and some labor unions. It also aligns him with some of the wealthy tech donors with whom he’s maintained longstanding relationships dating back to his days as mayor of San Francisco.
I’d like to hear his rebuttal before jumping on the hate wagon
I thought this said Gabe Newell for a second and I was confused.
Looking forward to this thread being fully purged in late 2027
“What’re you gonna do about it, vote republican?” - The democratic party
I love how honest we are becoming with each other. Hang up your masks blue maga, you dont need them anymore.
Don’t get me wrong, I hate both parties but at least Republicans aren’t frauds and have a real ideology. Even if that ideology is awful.
Newsom is a lapdog to the forces destroying this country and should never be allowed near elected office. His personal wealth should be confiscated and he can subsist on welfare for the rest of his life.
It’s because Gavin comes from old wealth.
…at the state level, and instead have that tax at the federal level.
That’s an important bit of detail that somehow gets overlooked.
What a massive piece of shit!
you sound surprised…
Remember when he was pretending to be a peoples governor?
Nothing says fiscal policy like taking away your biggest revenue stream.
Let’s see if Gavin newsom is in the Epstein files
Gavin Newsom is a clown & lapdog to the Epstein class. His legacy is mud
The people continue to be treated like rag dolls for the rich. People are such clowns for voting for this system. Split this fucker up. It is time.
Man, I so hope this kills his political aspirations dead.
He’s the “Diet Republican” brand of Democrat (most Democrats are but especially him), and people have already shown repeatedly that they arent interested in that.
People who want a Republican will vote for the real thing. People who don’t want a Republican will vote for someone else. He’s pandering to a crowd that doesn’t exist in any significant size.
This precisely, haven’t heard it described better.
The exact reason Trump is president and Democrats are floundering.
The fucked us w Bernie and lost the political capital and elections since.
Fuxk Newsome, every AIPAC backed candidate and establishment Democrats.
Go DemSoc or go the fuck home.
He will be pushed hard by the DNC to avoid having a non-conservative as a presidential candidate.
