Wednesday, July 22
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Topic: 2026-election

California Governor Gavin Newsom at a press briefing
California
Wednesday, 7/22, 04:48 PM

Newsom fights a state wealth tax while backing a federal one

  • The governor leaned on the union behind a November ballot measure to tax California billionaires, arguing the wealthy would simply move their assets out of state.
  • At the same time he is calling for a national wealth tax on people worth more than $100 million.
  • Supporters call it consistent; critics call it convenient.

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