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Gavin Newsom Suggests National Tax on Billionaires and a Fund for AI Development

Gavin Newsom Suggests National Tax on Billionaires and a Fund for AI Development

California Governor Proposes Public Equity Fund Tied to Billionaire Tax and AI California Governor Gavin Newsom has introduced the idea of establishing a “public equity” fund that would utilize a federal tax on billionaires, alongside advancements in artificial intelligence. In a recent Substack post, he discussed his economic strategy, advocating for a national minimum tax […]

Architect of California billionaires tax makes outrageous assertion

Architect of California billionaires tax makes outrageous assertion

The designer behind California’s debated billionaire tax has expressed concerns that the proposal is pushing wealthy individuals to leave the state. Despite this, SEIU-United Health Care Workers West President Dave Regan dismissed these claims as “totally fabricated,” even as reports suggest an increasing number of billionaires are either departing or mulling over the idea ahead […]

Florida and Texas may attract billionaires if California’s wealth tax is approved.

Florida and Texas may attract billionaires if California's wealth tax is approved.

California Billionaire Tax Faces Legal Challenge Amid Opposition from Newsom In California, a new wealth tax aimed at billionaires is stirring controversy and legal scrutiny. The proposed legislation, a one-time 5% tax aimed at residents with over $1 billion in assets, would take effect retroactively from January 1, 2026. Governor Gavin Newsom, however, has voiced […]

Union leader behind billionaires tax criticizes Gavin Newsom in unusual interview

Union leader behind billionaires tax criticizes Gavin Newsom in unusual interview

California’s Billionaire Tax Proposal Sparks Clash The leader of a union backing California’s contentious billionaire tax proposal has taken a strong stance against Governor Gavin Newsom. He accuses Democrats of working alongside the wealthy elite, as both sides grapple with efforts to remove the tax from the November ballot. In an interview, SEIU-United Health Care […]

Jeff Bezos points to government policy, not billionaires, as the cause of America’s economic issues.

Jeff Bezos points to government policy, not billionaires, as the cause of America's economic issues.

Bezos Responds to Taxation Debate In a recent conversation, Jeff Bezos, the founder of Amazon, countered assertions that imposing higher taxes on billionaires would significantly benefit working-class Americans. He suggested that merely increasing taxes wouldn’t effectively address issues like inflation or lessen costs for households. “Sometimes people say I don’t pay taxes, but that’s just […]