Newsom proposes national 'billionaires' tax' after opposing state's initiative

California Gov. Gavin Newsom has proposed a national billionaires' tax, a surprising shift after he previously opposed a similar state initiative that's now on the November ballot. This move suggests a broader strategy to address wealth inequality at a national level, even as he contests the state measure. The proposal could spark a national debate on taxing the ultra-rich to fund social programs, highlighting the ongoing tension between state and federal approaches to fiscal policy.