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Gavin Newsom proposing nationwide billionaire tax. (Photo: https://x.com/GavinNewsom/status/2070496029280276571)

Gavin Newsom’s Flip Flop on Billionaire Tax is the Real Newsom

Democrats are broken, and running out of other people’s money to spend

By Katy Grimes, June 27, 2026 9:06 am

27 Jun 2026 9:06 am

California Governor Gavin Newsom’s flip flop on the billionaire tax isn’t really a flip-flop – it’s Gavin admitting who he really is and that he actually supported it in the first place.

Gavin Newsom originally claimed that he opposed the proposed state-level “billionaire tax” in California. But he never campaigned against it. In fact, he never did anything except talk about his opposition – a far cry from other ballot initiatives that he opposed. 

In 2024, Governor Newsom and Democrat legislative leaders successfully challenged and removed a major anti-tax ballot initiative from the November ballot using the California Supreme Court.

The Taxpayer Protection and Government Accountability Act was a voter-rights initiative aimed at putting the brakes on runaway taxes and fees plaguing our famously expensive state. The TPGAA would have put the tax- and fee-increase reins in voter hands. It also would have raised the threshold for local tax increases to a two-thirds vote, and apply stricter rules on fees and other government charges, as well as rolling back certain tax hikes approved since 2022.

Newsom, along with the Democrat Supermajority in the California Legislature filed an emergency petition with the California Supreme Court in late 2023 to block it. In  Legislature v. Weber, they argued it was an unconstitutional “revision” of the state constitution, which initiatives can’t do – only constitutional amendments can do this. They argued it would fundamentally alter how government raises revenue and functions.

On June 20, 2024, the California Supreme Court unanimously sided with Newsom. It ruled the measure would “substantially alter our basic plan of government” and could not appear on the ballot. The decision prevented voters from considering it.

“The seven justices of the Supreme Court yielded to the wishes of the political branches, handing them the victory they sought over the will and the rights of 1.4 million California voters who signed petitions to qualify the TPA initiative for the ballot, as well as the tens of millions of Californians who would have benefited from its protections,” said Jon Coupal, President of the Howard Jarvis Taxpayers Association. “The court put politics ahead of the state Constitution.”

That is the real Gavin Newsom – the governor who wants unrestrained tax increases, and legally fights to end any tax increase restrictions.

Now Gavin Newsom is attempting to save his agonizing presidential bid, and  recently proposed a “Billionaire tax” at the national level, solidifying him as a relentless shapeshifter. 

As the Globe reported in 2025, “Is Newsom a shapeshifter or has he seen the light? We all know the answer; Newsom is a politician. His side just lost a major election, and many Californians voted for Trump.” We answered our own question:

“Actually, Gavin Newsom is soulless and has no principles, and has shown over many years that he will say and do anything to achieve what he wants – Whether you like it or not:”

 

Spencer Pratt, on a mission to save LA, also says Newsom is a shapeshifter:

“GavHands doesn’t believe in socialism. He doesn’t believe in anything, really…except Gavin. He will say whatever he thinks he needs to say to whatever audience is in front of him at the moment, then turn & say the opposite to you a second later. He is a vacuous shapeshifter.”

Newsom posted to X:

“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.”

The system is not fundamentally broken, but Democrats sure are. They are running out of other people’s money to spend.

Elon Musk may be an even more effective troll than President Trump. This is his reply:

What Gavin Newsom doesn’t say is according to the latest IRS data, the top 10% of earners pay roughly 70-75%, or more in some years, of total U.S. federal individual income taxes.

According to the Tax Foundation:

  • Top 10% of taxpayers: Paid 70.5% of all federal income taxes while earning about 47-50% of total adjusted gross income (AGI).
  • Top 5%: Around 60% of taxes.
  • Top 1%: Around 38-40% of taxes.
  • Top 50%: Paid 97% of taxes while the bottom 50% paid 3% of the taxes.

California billionaires are leaving the state in record numbers, and taking their billions with them. According to one billionaire in January, more than $1 Trillion already left, the Globe reported.

Gov. Newsom, Democrats and the SEIU continue to push the retroactive billionaire tax targeting the roughly 220 billionaires residing in California in 2025, ignoring that these individuals are the most financially mobile and can live anywhere. Expecting them to remain in the state as if they will happily and willingly hand over even more of their wealth surely must be facetious, the Globe reported.

The SEIU sponsored the “2026 Billionaires Tax Act,” which would impose a “one-time 5% tax” on individual wealth exceeding $1 billion.

The SEIU characterizes the billionaire tax as necessary “to prevent the state’s healthcare system from collapsing.”

However, it’s California’s Medi-Cal low-income subsidized health system that is about to collapse. Gov. Newsom and the state’s Democrats created the collapse of Medi-Cal by giving free healthcare to every illegal immigrant illegally living in the state, costing  taxpayers $23 billion over 2 years, forcing Newsom to get both an emergency loan and a bailout, Rep. Kevin Kiley confirmed in September.

And now the SEIU, Newsom and Democrats want to tax the business and job creators in the state to pay for their own corruption and incompetence.

California’s wealth tax is theft, according to President Trump’s AI and crypto czar David Sacks:

“This is not a tax — this is asset seizure,” said billionaire venture capitalist David Sacks to CNBC’s “Squawk Box.” Sacks insisted that “it’s not a one-time, it’s a first time.”

“And if they get away with it, there’ll be a second time and a third time. And this will be the beginning of something new and different in this country, which is asset seizure,” he said.

Friday, Sacks posted to X:

“Today was the day that Gavin Newsom was supposed to save the tech industry by cutting a deal to kill the Billionaire Tax Act. Instead he came out as DSA-adjacent, and BTA will be on the ballot in November. See y’all in Texas!”

In 2023, we asked Why Did 352 California Companies Flee to Other States in Three Years? Here’s why: Low-to-no income tax states gained $391 billion from California during 2018 to 2021, coinciding with Gavin Newsom’s election as governor.

These are the deal-breaking facts.

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One thought on “Gavin Newsom’s Flip Flop on Billionaire Tax is the Real Newsom”

  1. Is it possible to be a creep and a non-person who has no soul all at once?
    Gavin Newsom, who seems to me to be clawing the walls for relevance at the moment, has managed to pull it off somehow. He should probably watch his step these days or he may end up stalked and screamed at by ultra-radicals who accuse him of not being insanely left enough and destructive enough and who aim to chase him out of California altogether, like what happened to Scott Wiener recently.

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