Newsom's Bold Plan to Tax Billionaires

Tulsa News Today | 2 Min News | The Daily News Now! · Jun 26, 2026 · 1m

Governor Gavin Newsom is launching a bold national agenda to tackle wealth inequality, proposing a billionaire tax, closing tax loopholes, and raising corporate rates—all while hinting at a potential presidential run. He argues extreme wealth concentration threatens democracy and insists the solution must be federal, not state-level, to avoid driving the rich out of California. Newsom also wants the U.S. government to own a stake in AI companies to ensure shared economic gains, framing this as an “economic reset” to fund universal childcare, free college, worker retraining, and expanded…