California Gov. Gavin Newsom called for a nationwide tax on billionaires as part of a broader “economic reset for America.”
Newsom, who is considered to be a 2028 presidential contender, also reiterated his opposition to a state-level wealth tax that Californians will vote on in November.
He also called for creating a “national public equity fund” to help “ensure every American owns a stake in the future being built by AI.”
It’s really hard to make a progressive property tax that won’t be gamed by slumlords.
A UBI makes all flat taxes progressive,. To deal with the other end, adjust the tax code so any time any increase in value is used it needs to be taxed as regular income.