Allysia Finley on Newsom’s Potential Run for President: Calif.’s Revenue Comes from the Top 1%, a Heavily Progressive Tax System

RUSH TRANSCRIPT:
GIGOT: “So kim so a little bit of your funder on the Newsom beats with the California record. But he is going to say we are booming. The state economy is great. We are doing well on the fiscal side. The tech industry is booming. We are the dynamic innovative energy part of the U.S. economy what is your response to that question.”

FINLEY: “Number one who knows what the California comes when you look like in a few years if there is a recession. At least half of its income tax revenue come from the top 1% it’s a heavily progressive tax right now it’s looming and ravenous because a stock market prices for nvidia and others are pretty frothy. Now the other problem is by the way is energy. It’s interesting he is now down in Brazil touting these climate policies gasoline prices in California or a dollar 60 more than the nationwide average when he came into the office they were only a dollar more. The highest in the continental U.S. have increased to 72% under his watch. That’s not exactly making life more affordable the buzzword for Democrats. What kim says homelessness. Most numbers of homeless people in the country in part because it makes housing so affordable with all these policies local and the state policies that raise the cost of building including high permitting cost and that California quality environmental act in the Gavin Newsom is out there touted reforms they were intended as window dressing. The real problem is, as Democrats try to campaign on affordability, California as a poster child and UN- affordability.”