THENATIONALPULSE (Pulse Wires) - Newsom Calls for Federal Billionaire Tax, AI ‘Equity’ Fund.
California Democrat Governor Gavin Newsom has outlined a federal tax proposal targeting billionaires and AI-driven wealth, while rejecting a state-level wealth tax.
California Democrat Governor Gavin Newsom has outlined a federal tax proposal targeting billionaires and AI-driven wealth, while rejecting a state-level wealth tax. PULSE POINTS WHAT HAPPENED: California Governor Gavin Newsom (D) has proposed a national minimum tax on billionaires and a public equity fund to ensure Americans benefit from AI-driven economic growth. At the same time, he confirmed his opposition to a California ballot measure that would impose a state-level billionaire wealth tax. DETAIL: In an essay published on Substack, Newsom argued the nation’s wealthiest should pay at least the same effective tax rate as their workers, blaming tax loopholes and preferential treatment for widening inequality. He said a federal …Open