Gavin Newsom
👤 SpeakerAppearances Over Time
Podcast Appearances
I think you can have, that's an interesting conversation.
It's a challenging one too.
There's some constitutional issues around takings.
There's impact as it relates to the flow of capital, the impacts on the market, which are not inconsequential.
If you told me you're going to have a one-time, where do you mark the market?
How do you audit?
Do we go in and find out for those that are in this tax bracket, when did you buy your Basquiat?
You sure it was 1971 or was it 1991?
Markets have adjusted.
Where's the wine collection, sir?
Let me look again.
Hold on.
Mark to market?
Wait a second.
So you haven't sold your stuff.
All these things, it gets complicated.
I'm not suggesting, I'm not here to belittle it, argue.
I think the imbalance I said at the State of the State, the imbalance between the rich and the poor is the oldest and most fatal ailment of all republics.
That was Plutarch.
2,000 years ago, 10% of people owned two thirds of the wealth in the United States of America.