Right now, Gov. Gavin Newsom (D-CA) is only targeting billionaires, but the precedent of a retroactive tax, even on those who left the state, should make every California resident (or former resident) uneasy.
“Newsom is pushing the retroactive billionaire tax targeting the roughly 220 billionaires residing in California in 2025,” reports Jonathan Turley. “It signals not just desperation in the face of crippling debt and overspending but a recognition that California is chasing its highest earners out of the state.”
What business people, corporations, and job creators seek above all else is not low taxes, fewer regulations, or even a…
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