Democratic socialist surge pulls Newsom left -- and fast
California's governor rejected a state billionaire tax, citing fears the wealthy would flee. His answer: tax them nationally so they can't. The pivot follows a socialist surge that is reshaping the Democratic Party.
TL;DR
- California's governor rejected a state-level billionaire tax.
- The governor cited fears that wealthy individuals would leave the state.
- A national billionaire tax was proposed as an alternative solution.
- This shift in policy is influenced by a rise in socialist sentiment within the Democratic Party.