California’s Governor Gavin Newsom- a possible Presidential candidate since Democrats lack good potential candidates, endorsed Proposition 42- a measure that would ban a special tax on billionaires now and in the future. Like other Democrats in high office Newsom receives campaign contributions from billionaires.
The Democrat Party evolved to talk about tax increases and a wealth tax during campaigns and then ramrod tax cuts through in office while also working to censor free speech and criminalize political opposition. Governor Newsom has broken with tradition and simply endorse a bill to concentrate wealth into a status of virtual royalty. The primary political goals of Democrat politicians is to enrich themselves.
Capital increase faster than wages and wealth traditional concentrates and need be regulated with taxation in order to conserve a democracy/republic rather than some form of oligarchy, plutonomy or dictatorship of the rich.
https://calmatters.org/politics/2026/10/newsom-tax-propositions-november-election/
