- cross-posted to:
- politics@hexbear.net
- cross-posted to:
- politics@hexbear.net
California Gov. Gavin Newsom called for a nationwide tax on billionaires as part of a broader “economic reset for America.”
Newsom, who is considered to be a 2028 presidential contender, also reiterated his opposition to a state-level wealth tax that Californians will vote on in November.
He also called for creating a “national public equity fund” to help “ensure every American owns a stake in the future being built by AI.”
I believe, and this is as diplomatic as I care to be, that he is perhaps concerned with billionaires fleeing the state and that a national approach could prevent that.
On the other hand it is more likely that his resistance to the CA tax and cheerleading of a national approach is purely performative as it will simply not happen at that scale, so that his pseudo-progressive veneer isn’t stripped away.
I think that’s more likely
That’s really pretty standard Democrat fake leftist strategy - only openly advocate for a leftist proposal when there’s no chance that it’ll pass.
Isn’t it a fake leftist strategy is to argue against voting for anyone that wants to tax billionaires?
It’s a leftist strategy to call out two faced billionaire friendly Democrats like Gavin fucking Newsom
Gavin is the true Democratic party distilled to its purest essence: millionaires using leftist rhetoric to seduce disgruntled workers, while filling their pockets by serving the interests of other millionaires and billionaires.
They’ll implement a flagship “leftist” legislation (that in any other part of the world would be seen as clear right) for the next opposite administration to tear down, while keeping all the bullshit that’s already in place.
There’s a billionaire tax on the CA ballot currently. Newsome has actively done everything he could to oppose it, and has promised to veto it if it passes. He doesn’t want to tax billionaires, he wants the vote to happen in a forum that it won’t pass in.
If they are not paying taxes anyway, why would that even matter?
It’s not that they are providing $0 in tax income, it’s that it’s nearly 0%. It’s still a chunk of change.
I’ve heard that we wouldn’t feel the impact for 25 years.
Even so, kick them out. They can live in beautiful Houston Texas, or sunny Arkansas. Or maybe they will decide paying up is worth the cost of being a resident of California
Except evidence doesn’t support mass flight of the rich with higher taxes anyway.
It’s all bluster. When you have households and businesses both supported by dozens to hundreds of employees you can’t simply sell your house and buy a new one. You’d need all new staff to cater to your needs, would have to get new business licensing and real estate for your businesses to move, there’s just a whole lot more than pulling up stakes and moving state when you’re a fat ass dragon sitting on a hoard of stolen gold.
“I can’t tax billionaires in California, because they’d leave California”
“I can’t tax billionaires nationally, because they’d leave the nation”
“I can’t tax billionaires globally, because they’d leave the planet”
There will never be a finish line in front of which these billionaire-class guardians won’t shuffle their feet, nor a goalpost that they won’t carry further. It’s some real “I’ll release my taxes after I get elected” energy.
We don’t even need a billionaire’s tax for an “economic reset”. I mean, we do because it’s not healthy for our economy or our political system. But what will happen with a billionaire’s tax? The money will just go to the government, which will spend it in arcane ways that the average person has little visibility or voice on.
What we need is an increase to the minimum wage to whatever it would’ve been if it hadn’t been consistently frozen and re-frozen and with mandatory CoLA, universal healthcare, repeal of Citizens United, repeal of whatever decision it was that said a company’s ultimate responsibility is to shareholders, a breakup of a whole bunch of overweighted conglomerates, a breakup of media empires, a ban on “entertainment” masquerading as “news”, a reform of the Supreme Court, vetc. There’s a whole bunch of other stuff as well. But there’s a whole bunch of stuff that could get accomplished without a billionaire’s tax.
Taxing billionaires would benefit regular people even if the government burned the money. Or buried it. It would reduce the price of assets, like housing, and make them more affordable for regular people.
Sure, it would be better spend the money on healthcare or infrastructure, but even if we just subsidized the underwater basketweaving industry, we would still be better off.
once he become president he is going to champion a world billionaire tax and say no to a national one.
Not sure about his motivations, but we absolutely cannot be playing states off of one another to see who can bend over the hardest for the Epstein Class.
Fuck that noise.
The idiots, aka 99%of voters, will only remember him promoting the national billionaire tax.
My thoughts exactly