Friday, July 10, 2026

Gavin Newsom: We Need a National Tax on Billionaires. Here's Why

June 26, 2026 | It's time for a national billionaires tax and a new social contract.

10% of Americans own two-thirds of the wealth.

Wages have stagnated. The cost of living has skyrocketed. The system is fundamentally broken.

The federal tax code, a corporate code, and an inheritance code were written for a different set of Americans.

It’s time for an economic reset.



Earlier generations would have had a revolution by now. Have they gone out of fashion? Or will they come back into fashion?

By the way, fort hat “trickle-down economics” Gavin Newsom spoke of, we can thank the Old Gipper and Maggie for selling that crap to the public. — © Mark Alexander