Gov. Gavin Newsom says a controversial California initiative to impose a one-time tax on billionaires is aimed at the wrong place. “The fight to make the wealthiest Americans pay more in taxes is not one we should be fighting state by state,” Newsom wrote in a Substack post. “You may not be able to pick up and move to Texas or Florida to shelter your income from taxation, but I promise you that billionaires can, and do. ” Business Insider. What Newsom isn’t telling you is that the billionaires will just move out of the USA paying no tax at all.
“A potential 2028 presidential hopeful, Newsom also embraced a growing belief that Americans should hold some equity stake in the largest AI companies. Under his policy, the federal government would create a national public equity fund that would hold the stakes. He said the fund could be use to help workers transition careers as AI disrupts the workforce. “Simply, as artificial intelligence reshapes the country, every American should own a piece of the future it builds,” he wrote.” Business Insider. Bolshevik Bernie is advocating a 50% ownership stake which means that the “workers” make all of the decisions which in turn means that the most successful AI companies will be located in China and elsewhere!
And that is all I’m going to say about that!
Drain the Cesspool 