Newsom describes calls with anguished rich as he continues opposing billionaire tax

Wealth tax would cause California’s rich to flee, Gov Newsom warns

By Biz Carson, Eliyahu Kamisher and Francesca Maglione, Bloomberg California Governor Gavin Newsom warned that a proposed one-time tax on billionaires will backfire by prompting the ultra-rich to leave the state and expressed disappointment at those who’ve already departed such as Google co-founder Sergey Brin. “The impact of a one-time tax does not solve an ongoing structural challenge,” Newsom said on Thursday at a Bloomberg News event in San …

Newsom describes calls with anguished rich as he continues opposing billionaire tax

California Gov. Gavin Newsom continued his vocal opposition to the proposed billionaire tax measure, saying at a Bloomberg forum event in San Francisco that it would ultimately degrade the state’s tax base as the ultrawealthy left the state.

Why won’t Newsom tax billionaires?

Not only are Californians struggling to make ends meet, they also have to contend with a governor who cares more about billionaires and his own presidential aspirations.

An architect of California's billionaires tax says he's an 'enthusiastic capitalist' but the system 'doesn't seem to be working.' He's got a plan

Brian Galle is not looking to ban billionaires. In fact, the tax law expert and key architect behind California’s controversial wealth tax proposal described himself as an “enthusiastic capitalist” in a recent interview with Fortune. “I think capitalism is a great system that probably has, you know, enriched the lives of billions of people,” he told Fortune over Zoom from his office in Berkeley, where he teaches courses on tax and nonprofit law.…

Contemplating the Danger In California Billionaire Tax

Jeff Remsburg, InvestorPlace The tax that starts with billionaires... the pattern from 1969 and 1913... why your portfolio faces risk either way... Luke's government-backed opportunity...

Column: Are California’s billionaires crying wolf?

As Massachusetts voters pondered a “millionaire tax” in the fall of 2022, a coalition of big businesses and wealthy entrepreneurs rallied against it. Among their arguments: The new tax would