{"id":626362,"date":"2026-06-28T01:35:00","date_gmt":"2026-06-28T01:35:00","guid":{"rendered":"https:\/\/buglecall.org\/?p=626362"},"modified":"2026-06-28T01:35:00","modified_gmt":"2026-06-28T01:35:00","slug":"newsom-scrubs-100-million-slippery-slope-from-national-billionaire-tax-pitch-and-hes-coming-after-inheritance-too-2","status":"publish","type":"post","link":"https:\/\/buglecall.org\/?p=626362","title":{"rendered":"Newsom Scrubs ‘$100 Million’ Slippery Slope From National ‘Billionaire Tax’ Pitch – And He’s Coming After Inheritance Too"},"content":{"rendered":"

Newsom Scrubs ‘$100 Million’ Slippery Slope From National ‘Billionaire Tax’ Pitch – And He’s Coming After Inheritance Too<\/span><\/p>\n

\n

California Governor Gavin Newsom (D) on Friday\u00a0called for a national tax on billionaires.\u00a0<\/strong>Except, in the original version, it was\u00a0anyone with a net worth of at least $100 million<\/strong>\u00a0– as quoted by multiple<\/a> outlets<\/a>, citing a post from Newsom’s Substack<\/a> account.\u00a0<\/p>\n

\"\"<\/a><\/p>\n

As originally reported by\u00a0Politico:<\/em><\/p>\n

\n

His plan to address the country\u2019s yawning wealth gap includes \u201ca true minimum tax on billionaires and those with a net worth of $100 million<\/strong>\u201d and creating a national public equity fund to give all Americans a stake in the economic gains created by artificial intelligence companies.\u00a0<\/em><\/p>\n<\/blockquote>\n

The post now reads:<\/p>\n

\n

“So here is what I support: A national billionaires\u2019 tax. A true minimum tax on billionaires \u2014 a modern Buffett Rule \u2014<\/strong> that ensures the people at the very top pay at least the tax rate their own workers pay.”<\/em><\/p>\n<\/blockquote>\n

Bitch please.\u00a0<\/p>\n

Newsom also wants to\u00a0tax inheritance<\/strong>\u00a0– writing “We also need to rewrite our inheritance rules.<\/strong> Over the next twenty years, this country will live through the largest intergenerational wealth transfer in human history, with roughly $124 trillion changing hands. If we do not act, that transfer of wealth among the ultra-wealthy will lock in a permanent American aristocracy of inherited wealth, with all the political consequences the founders warned us about.”<\/p>\n

Notice\u00a0he cites the massive wealth transfer, but not the level of inheritance he’s targeting –\u00a0<\/strong>as most slippery slopes begin.<\/p>\n\n

Newsom’s proposals come after\u00a0he failed to stop California’s legislation from with placing a state-level wealth tax on the November ballot.\u00a0<\/strong><\/p>\n

\n

Newsom\u2019s proposal follows a failed attempt by the governor, billionaires and progressive groups of persuading the union behind the California tax, SEIU-UHW, to withdraw the measure before Thursday evening\u2019s deadline. Newsom had even privately expressed assurances about an agreement, telling a wealthy donor he expected to negotiate the measure off the ballot, Bloomberg News previously reported. –Bloomberg<\/a><\/em><\/p>\n<\/blockquote>\n

“For Newsom, it\u2019s the worst of all worlds, because it puts him squarely in the middle of a national Democratic debate about equity, taxation and affordability,” said\u00a0Steven Maviglio, a veteran Democratic strategist in the state. “His announcement might deflect from that a bit.”<\/p>\n

Newsom also suggests\u00a0creating a public equity (slush) fund that would ‘take a stake in the artificial intelligence economy.’<\/strong><\/p>\n

Anti-Billionaire-Tax-Billionaires<\/h2>\n

Shockingly, California’s billionaires aren’t exactly excited about all this tax malarkey. In fact, while the anti-tax coalition has been most prominently linked to billionaire Sergey Brin (who’s funding other ballot measures that could nullify a wealth tax),\u00a0Planned Parenthood of California<\/em>\u00a0and several labor unions are weirdly also against taxing billionaires – arguing that the proceeds from the tax would benefit select groups, while potentially damaging the entire state’s budget\u00a0because wealthy residents will flee<\/strong>.\u00a0<\/p>\n

Even they know it’s just a slush fund.\u00a0<\/p>\n

“We are ready to defeat this convoluted nightmare of a measure in November,” a spokesperson for\u00a0Golden State Promise, a group backed by billionaire Chris Larsen, told\u00a0Bloomberg<\/em>, while a different coalition linked to doctors and school boards called California’s proposal a threat to “vital funding for education and schools, healthcare and clinics, public safety, and infrastructure projects.”<\/p>\n

Either way,\u00a0Democrats continue to actively scheme for ways to extract more money from capitalists.\u00a0<\/strong><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 06\/27\/2026 – 21:35<\/span><\/p>","protected":false},"excerpt":{"rendered":"

Newsom Scrubs ‘$100 Million’ Slippery Slope From National ‘Billionaire Tax’ Pitch – And He’s Coming After Inheritance Too California Governor Gavin Newsom (D) on Friday\u00a0called for a national tax on billionaires.\u00a0Except, in the original version, it was\u00a0anyone with a net worth of at least $100 million\u00a0– as quoted by multiple outlets, citing a post from… Continue reading Newsom Scrubs ‘$100 Million’ Slippery Slope From National ‘Billionaire Tax’ Pitch – And He’s Coming After Inheritance Too<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":626354,"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-626362","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\/626362","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=626362"}],"version-history":[{"count":0,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/626362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/media\/626354"}],"wp:attachment":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=626362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=626362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=626362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}