Newsom Warns Wealth Tax Might Hurt California, Says Market is Holding Trump Accountable
In an interview with Bloomberg, California Governor Gavin Newsom expressed concerns about the potential consequences of a wealth tax in the state. Newsom acknowledged that a tax on billionaires could provide a significant financial windfall for California, but he cautioned that it could also lead to an exodus of the wealthy to other, lower-tax states. Additionally, Newsom commented on the relationship between the stock market and the Trump administration, stating that despite the president's claims, the market is the "only thing he seems to pay attention to" and acts as a check on the White House. Newsom also addressed the ongoing immigration crackdown and the recent ICE shootings in Minneapolis.
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