Newsom urges a national 'billionaires' tax' while fighting one in California

California Gov. Gavin Newsom advocates for a national billionaires' tax and government ownership of AI companies, opposing a similar state-level proposal in California due to concerns it may drive billionaires out of the state. He proposes federal tax reforms, including a minimum tax on individuals with over $100 million in net worth and higher corporate tax rates, to address wealth concentration and fund social programs.