Newsom Pushes Billionaire Tax for Democracy

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

California Governor Gavin Newsom is launching a bold federal push to tax billionaires, arguing that unchecked wealth concentration threatens democracy and demands an “economic reset” for America. He opposes a state-level billionaire tax, warning it’s easily dodged by moving assets abroad, and instead wants a national minimum tax on those with over $100 million in net worth. His plan includes closing tax loopholes, restoring pre-Trump corporate rates, and investing in workers, childcare, and affordable college — all while positioning himself as a progressive leader eyeing a presidential run…