NEWSOM AGAINST WEALTH TAX IN CALIFORNIA “You can't isolate yourself from the 49 [other states]. We're in a competitive environment. People have this simple luxury particularly people of that status. They already have two or three homes outside the state. It's a simple issue. You’ve got to be pragmatic about it. Plus there's some simple questions that haven't been answered very simply is how the hell do you determine it? Is it you mark to market? Where's your asset base? How you make that determination in terms of just what the basic assessment is? We have one individual that represents one labor union in the state of California that has not collected one signature that is considering putting on the ballot after he collects signatures a wealth tax that the vast majority of labor opposes and almost everybody I know opposes. So it's not something to be panicked about, but it's part of the broader concern and narrative that's developed in this country of the halves and have nots, not just income inequality, but wealth inequality.… You go back, read an old Plutarch quote, two plus thousand years ago. Plutarch was warning the Athenians that the imbalance between the rich and the poor is the oldest and most fatal ailment of all republics.” @GavinNewsom @CAgovernor via @andrewrsorkin @dealbook @nytimes