{"id":626041,"date":"2026-06-27T12:24:04","date_gmt":"2026-06-27T12:24:04","guid":{"rendered":"https:\/\/buglecall.org\/?p=626041"},"modified":"2026-06-27T12:24:04","modified_gmt":"2026-06-27T12:24:04","slug":"gavin-newsom-sparks-firestorm-over-call-for-national-billionaires-tax-3","status":"publish","type":"post","link":"https:\/\/buglecall.org\/?p=626041","title":{"rendered":"Gavin Newsom sparks firestorm over call for national billionaires tax"},"content":{"rendered":"
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California Governor Gavin Newsom sparked a firestorm over his call for a national wealth tax on billionaires, a flashing warning sign that open class warfare is back at the top of the Democratic Party\u2019s agenda.<\/p>\n

In a Friday video posted to social media, the outgoing governor made his pitch for an \u201ceconomic reset for America\u201d and a \u201cnew social contract\u201d at a time when billionaires are fleeing his state to escape a looming 5 percent levy on their wealth and policies hostile to the rich, measures that Newsom wants to export to the entire nation.<\/p>\n

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It\u2019s time for a national billionaires tax and a new social contract.<\/p>\n

10% of Americans own two-thirds of the wealth. Wages have stagnated. The cost of living has skyrocketed.<\/p>\n

The system is fundamentally broken.<\/p>\n

The federal tax code, a corporate code, and an inheritance code\u2026 pic.twitter.com\/tLRbUId6yi<\/a><\/p>\n

\u2014 Gavin Newsom (@GavinNewsom) June 26, 2026<\/a><\/p>\n<\/blockquote>\n

\u201cIt\u2019s time for a national billionaires tax and a new social contract. 10% of Americans own two-thirds of the wealth. Wages have stagnated. The cost of living has skyrocketed,\u201d Newsom said in his post to X. \u201cThe system is fundamentally broken.\u201d<\/p>\n

\u201cThe federal tax code, a corporate code, and an inheritance code were written for a different set of Americans,\u201d he added. \u201cIt\u2019s time for an economic reset.\u201d<\/p>\n

Newsom also linked to a manifesto<\/a> posted to his Substack page in which he invoked the \u201cD\u201d word as a cloak for his Marxist proposal. \u201cWe must democratize the American economy to save democracy,\u201d the screed is subtitled.<\/p>\n

The governor\u2019s post comes as he came out in opposition to the California Billionaire Tax Act, a redistributive scheme that has the blessing of Sen. Bernie Sanders (I-Vt.), the nation\u2019s most high-profile socialist and a man who has been largely responsible for driving the Democrats\u2019 shift into outright communism.<\/p>\n

The message is significant as Newsom prepares to mount a run for the White House and is seen by many as the 2028 Democrat front runner.<\/p>\n

Newsom\u2019s timing is also convenient, as his call for a nationwide billionaire tax comes after the shocking primary wins by three overt socialists in New York City, all of whom were endorsed by \u201ccommunist lunatic\u201d Mayor Zohran Mamdani, a result that has spooked the establishment.<\/p>\n

As could be expected, Newsom\u2019s declaration of class war was met with a strong reaction from X users.<\/p>\n

\u201cThe billionaire tax is going to destroy Gavin Newsom\u2019s state\u2014the majority of the state\u2019s ultra-wealthy are already making exit plans\u2014so he wants to pawn it off on the entire nation. This is a bad idea, proposed by a bad man, that will produce bad results. Must be stopped,\u201d wrote Manhattan Institute senior fellow Chris Rufo.<\/p>\n

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The billionaire tax is going to destroy Gavin Newsom\u2019s state\u2014the majority of the state\u2019s ultra-wealthy are already making exit plans\u2014so he wants to pawn it off on the entire nation. This is a bad idea, proposed by a bad man, that will produce bad results. Must be stopped. https:\/\/t.co\/aR0l0Lewsp<\/a><\/p>\n

\u2014 Christopher F. Rufo \"\u2694\" (@christopherrufo) June 26, 2026<\/a><\/p>\n<\/blockquote>\n

\u201cOne minute you\u2019re a Democrat, next minute you\u2019re a socialist. Did the DSA break you? You know the billionaire tax is a bad idea,\u201d wrote podcaster and businessman Patrick Bet-David. \u201cWhy not stand your ground as a democrat instead of joining the socialist camp? Terrible strategy.\u201d<\/p>\n

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One minute you\u2019re a Democrat, next minute you\u2019re a socialist.<\/p>\n

Did the DSA break you?<\/p>\n

You know the billionaire tax is a bad idea.<\/p>\n

Why not stand your ground as a democrat instead of joining the socialist camp?<\/p>\n

Terrible strategy. https:\/\/t.co\/C0UFsSluN1<\/a><\/p>\n

\u2014 Patrick Bet-David (@patrickbetdavid) June 26, 2026<\/a><\/p>\n<\/blockquote>\n

Venture capitalist David Sacks, the co-chair of the President\u2019s Council of Advisors on Science and Technology, wrote, \u201cToday was the day that Gavin Newsom was supposed to save the tech industry by cutting a deal to kill the Billionaire Tax Act. Instead he came out as DSA-adjacent, and BTA will be on the ballot in November. See y\u2019all in Texas!\u201d<\/p>\n

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Today was the day that Gavin Newsom was supposed to save the tech industry by cutting a deal to kill the Billionaire Tax Act. Instead he came out as DSA-adjacent, and BTA will be on the ballot in November. See y\u2019all in Texas! https:\/\/t.co\/3jz9Mk7nJ3<\/a><\/p>\n

\u2014 David Sacks (@DavidSacks) June 26, 2026<\/a><\/p>\n<\/blockquote>\n

Actress and filmmaker Justine Bateman suggested that Newsom is just trying to paper over his disastrous tenure as California\u2019s governor.<\/p>\n

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This clawing for more and more money from already heavily-taxed California citizens is nothing more than an attempt by Newsom to cover up his complete failure as a financial custodian of this state.<\/p>\n

So, instead of fixing the all the fraud in this state, including his own, he\u2019s\u2026 https:\/\/t.co\/Gk0xqyqiH3<\/a> pic.twitter.com\/A7QEDO3T2Q<\/a><\/p>\n

\u2014 Justine Bateman (@JustineBateman) June 26, 2026<\/a><\/p>\n<\/blockquote>\n

\u201cTruly a spoilt brat, trust-fund child demanding that \u2018mommy and daddy\u2019 tax payers keep handing him money, even though he lost or mishandled what you gave him yesterday,\u201d she said in a scathing post.<\/p>\n

One prominent MAGA influencer dug up some inconvenient details from the past to illustrate the oily political chameleon\u2019s hypocrisy.<\/p>\n

\n

Gavin Newsom is attacking billionaires and calling for a new \u201csocial contract.\u201d<\/p>\n

What\u2019s ironic is that Newsom is wealthy today because of a billionaire.<\/p>\n

Newsom\u2019s father managed the wealth of billionaire Gordon Getty. A big part of his job was finding ways to shield the fortune\u2026 pic.twitter.com\/qh0ASnUB7g<\/a><\/p>\n

\u2014 MAZE (@mazemoore) June 26, 2026<\/a><\/p>\n<\/blockquote>\n

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Here\u2019s Newsom at a party in 2013 (when California taxes were lower than they are today) talking about California\u2019s high taxes and people leaving the state:<\/p>\n

\u201cOur tax rates are not competitive. Period. It\u2019s just a fact.\u201d https:\/\/t.co\/Lb147fR0Ua<\/a> pic.twitter.com\/7krKtDRxyZ<\/a><\/p>\n

\u2014 MAZE (@mazemoore) June 26, 2026<\/a><\/p>\n<\/blockquote>\n

Newsom is clearly looking to exploit class resentment and hoping to surf the socialist wave all the way to the White House.<\/p>\n

<\/p>","protected":false},"excerpt":{"rendered":"

California Governor Gavin Newsom sparked a firestorm over his call for a national wealth tax on billionaires, a flashing warning sign that open class warfare is back at the top of the Democratic Party\u2019s agenda. In a Friday video posted to social media, the outgoing governor made his pitch for an \u201ceconomic reset for America\u201d… Continue reading Gavin Newsom sparks firestorm over call for national billionaires tax<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":626024,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[20,23],"tags":[],"class_list":["post-626041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-empowerment","category-national-security","entry"],"_links":{"self":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/626041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=626041"}],"version-history":[{"count":0,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/626041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/media\/626024"}],"wp:attachment":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=626041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=626041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=626041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}