After Newsom Couldn’t Stop It, California Braces for Billionaire Tax Brawl

California’s billionaire tax proposal is the fight the ultrarich feared - The Boston Globe

The wealth tax would do more than raise money. It could redefine how Americans think about extreme wealth.

No, The Framers Would Have Hated the Wealth Tax

Below is my column in the Wall Street Journal on the bizarre claim of Gov. Gavin Newsom and others that the Framers would have supported wealth taxes, including the proposed Billionaire’s Tax. It is a claim that seeks to mask the economically unwise with the historically unfounded. The Framers sought to protect property from legislative...

Newsom’s wealth tax: Target Musk and Bezos, hand the moon to China

Recently, Gov. Gavin Newsom (D-CA) proposed a national wealth tax. The idea is that it is a bad thing that a few billionaires (and one trillionaire) possess all of those riches that they acquired by building things and providing needed services. So, Newsom took to X (owned by Elon Musk, one of his targets) and proposed that a certain percentage (unspecified) of rich people’s wealth should be seized by the government every year. Many commentators…

After Newsom Couldn’t Stop It, California Braces for Billionaire Tax Brawl

A week after Gov. Gavin Newsom failed to broker a deal to stop a proposed billionaire tax, both sides of the fight are trading blame and bracing for a high-stakes, nationally watched political brawl.