California Gov. Gavin Newsom , considered by some to be the frontrunner to be the next Democratic presidential nominee, said during a panel on Wednesday that he wants his party to be a “big tent” that welcomes large numbers of people into the fold. But he’s “adamantly against” one of the most popular proposals Democrats have to offer: a wealth tax.

In October, progressive economists Emmanuel Saez and Robert Reich joined forces with one of California’s most powerful unions , the Service Employees International Union’s ( SEIU ) United Healthcare Workers West, to propose that California put the nation’s first-ever wealth tax on the ballot in November 2026.

They described the measure as an “emergency billionaires tax” aimed at recouping the tens of billions of dollars that wi

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