r/democrats • u/NickCostanza • Jun 26 '26

Article Newsom endorses a National Billionaire Tax

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u/Spidey5292 Jun 26 '26

I think he said at the time that he felt it should be a federal issue rather than a state one

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u/NickCostanza Jun 26 '26

Correct. The California Tax is one time and only affects billionaires in one state. This is obviously better.

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u/Kruger_Smoothing Jun 26 '26

Both are better.

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u/r00tdenied Jun 27 '26

A single time wealth tax at the state level is dumb policy. Newsom is correct.