Newsom’s Billionaire Tax Vision

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

Governor Gavin Newsom is launching a bold push for a federal billionaires’ tax, arguing that extreme wealth concentration threatens democracy and that AI’s future must be shared by all Americans. While California debates a state-level one-time tax on billionaire assets, Newsom opposes it, fearing it will drive wealth out of the state. He insists the solution must be national, targeting loopholes, inheritance taxes, and corporate rates to curb wealth inequality. With AI poised to reshape the economy, Newsom envisions revenue funding worker retraining, childcare, college, and healthcare —…