this post was submitted on 10 Oct 2026
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Not only has Gov. Gavin Newsom vocally opposed the proposed California billionaire tax, but he also wants to prevent the state from ever passing a wealth tax in the future.

On Friday he endorsed Proposition 42, a ballot measure that would cancel out Proposition 40, the proposed billionaire tax. Prop. 42 would prohibit retroactive taxes like the one-time 5% tax on assets that would apply to any billionaire who lived in California on Jan. 1, 2026 if Prop. 40 passes.

But Prop. 42, funded and placed on the ballot by billionaire and Google co-founder Sergey Brin to defeat the billionaire tax, also would go further, by banning any new taxes on personal property.

That includes pensions and 401K accounts before retirees start drawing retirement income from them. It also includes other investments, financial assets, business holdings, art collections and all other forms of personal wealth that would be affected by the billionaire tax or any future wealth tax.

Newsom’s decision to support Prop. 42 runs counter to his own Democratic Party and some labor unions. It also aligns him with some of the wealthy tech donors with whom he’s maintained longstanding relationships dating back to his days as mayor of San Francisco.

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[–] gigaqps@lemmy.world 1 points 2 hours ago

I'd like to hear his rebuttal before jumping on the hate wagon

[–] UltraGiGaGigantic@lemmy.ml 21 points 8 hours ago

"What're you gonna do about it, vote republican?" - The democratic party

I love how honest we are becoming with each other. Hang up your masks blue maga, you dont need them anymore.

[–] AntiOutsideAktion@lemmy.ml 6 points 6 hours ago

Looking forward to this thread being fully purged in late 2027

[–] ElDuderino@lemmus.org 9 points 8 hours ago

It's because Gavin comes from old wealth.

[–] Triasha@lemmy.world 6 points 8 hours ago

Newsom is a lapdog to the forces destroying this country and should never be allowed near elected office. His personal wealth should be confiscated and he can subsist on welfare for the rest of his life.

[–] Impractical_Island@lemmy.world 1 points 6 hours ago

I thought this said Gabe Newell for a second and I was confused.

[–] Leviathan@lemmy.world 20 points 13 hours ago (1 children)

What a massive piece of shit!

[–] KneeTitts@lemmy.world 2 points 4 hours ago

you sound surprised...

[–] DangerNooble@lemmy.world 25 points 14 hours ago* (last edited 12 hours ago)

Remember when he was pretending to be a peoples governor?

[–] fira@lemmy.today 25 points 15 hours ago

Gavin Newsom is a clown & lapdog to the Epstein class. His legacy is mud

[–] Doomsider@lemmy.world 17 points 15 hours ago

Nothing says fiscal policy like taking away your biggest revenue stream.

[–] DidIReallySayThat@lemmy.world 39 points 18 hours ago (1 children)

Man, I so hope this kills his political aspirations dead.

[–] 7101334@lemmy.world 26 points 16 hours ago (2 children)

He's the "Diet Republican" brand of Democrat (most Democrats are but especially him), and people have already shown repeatedly that they arent interested in that.

People who want a Republican will vote for the real thing. People who don't want a Republican will vote for someone else. He's pandering to a crowd that doesn't exist in any significant size.

[–] EntheoNaut@lemmy.ml 7 points 8 hours ago

This precisely, haven’t heard it described better.

The exact reason Trump is president and Democrats are floundering.

The fucked us w Bernie and lost the political capital and elections since.

Fuxk Newsome, every AIPAC backed candidate and establishment Democrats.

Go DemSoc or go the fuck home.

[–] JcbAzPx@lemmy.world 13 points 15 hours ago

He will be pushed hard by the DNC to avoid having a non-conservative as a presidential candidate.

[–] kurmudgeon@lemmy.world 58 points 20 hours ago (2 children)

Gavin Newsom exemplifies what is wrong with the Democratic party.

[–] madcaesar@lemmy.world 18 points 17 hours ago

We need to push the DSA to replace these shitty centrist Democrats, just like the tea party replaced the old Republicans. It can be done.

[–] 82tenterstreet@lemmy.world 13 points 19 hours ago

Bingo, he runs with the hare and the hounds and lends credibility to the Republican notion that all dems are deeply corrupted.

[–] Blackmist@feddit.uk 52 points 20 hours ago (1 children)

I don't want a one time tax on billionaires.

I want an every year tax on billionaires.

[–] nieminen@lemmy.world 19 points 20 hours ago (7 children)

I hear you, but don't let the lack of a perfect solution be the enemy of progress. A one-time tax would still (theoretically) do some good, and not harm anybody. So long as those funds are properly allocated.

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[–] MBech@feddit.dk 19 points 18 hours ago (2 children)

How do you ban future laws? Isn't that a bit like when a 10 year old tells his girlfriend she isn't allowed to ever ever break up?

[–] Madison420@lemmy.world 12 points 17 hours ago

You don't, you make a bill, pass the bill and it stands as long as no one tries to fight it.

[–] Dozzi92@lemmy.world 4 points 14 hours ago

It's banned forever!

Or until it is unbanned.

[–] SplitTheUSInFour@lemmy.world 10 points 17 hours ago* (last edited 17 hours ago)

The people continue to be treated like rag dolls for the rich. People are such clowns for voting for this system. Split this fucker up. It is time.

[–] GolfFoxtrotLima@sh.itjust.works 6 points 15 hours ago* (last edited 15 hours ago)

Let’s see if Gavin newsom is in the Epstein files

[–] jaykrown@lemmy.world 17 points 20 hours ago* (last edited 20 hours ago) (6 children)

It's comical at this point. No way anyone votes for him if he tries to run for president.

[–] bold_atlas@lemmy.world 1 points 3 hours ago

As if anyone can remember anything for longer than a week.

[–] nieminen@lemmy.world 12 points 20 hours ago

You'd be surprised. I thought the same thing about trump 2024. A lot of people only see newsom as a charismatic anti-trump, And don't actually see or care about his individual decisions or policies. Which, come to think of it, is very similar to how trump made it in.

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[–] Bluedragon012@lemmy.world 7 points 18 hours ago

counterstrike vocal stem Enemy spotted.

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