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Newsom and Musk trade jabs over proposed nationwide billionaire tax

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California Governor Gavin Newsom has called for a federal billionaire tax, arguing that a national policy is needed to stop the ultra-wealthy from moving to low-tax states. The proposal sparked a public spat with tech billionaires Elon Musk and David Sacks on social media. Musk responded to Newsom with a mocking meme, prompting the governor to fire back with a comment about taxing trillionaires. Venture capitalist David Sacks criticized Newsom for failing to veto a state-level Billionaire Tax Act, and suggested the governor consider relocating to Texas. The exchange highlights growing tensions between Democratic policymakers and Silicon Valley figures over wealth taxation in the United States.

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