Gray Davis Critiques Wealth Tax and Reflects on Gov. Newsom's Tenure

Wed, 06 May 2026 06:19:00 +0200

Former California Governor Gray Davis appeared on CNN to discuss his views on wealth taxation and evaluate the performance of current Governor Gavin Newsom. Davis expressed strong skepticism about the concept of a wealth tax, calling it a 'self-inflicted wound' and warning that such a policy could have negative economic consequences for the state. He highlighted the potential for capital flight, reduced investment, and unintended financial burdens on wealthy Californians, suggesting that the approach might ultimately harm the state’s economy rather than generate the intended revenue. Additionally, Davis offered his perspective on Newsom’s governance, noting both accomplishments and challenges faced during his tenure. The interview reflected on historical and contemporary fiscal policy debates in California, emphasizing caution when implementing tax policies that could impact high-income residents. Davis’ remarks contribute to ongoing discussions about wealth distribution, state revenue