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Gavin Newsom: “Corporate profits flowed into stock buybacks and executive…”

Featuring: Gavin Newsom, Democratic | Governor of California

We Need a National Tax on Billionaires. Here's Why.

Published June 26, 2026 | Video Starts at 01:42

It builds through a national public equity fund. Trickle down economics. It's been a, well, nearly 50 year experiment that has failed record. Corporate profits flowed into stock buybacks and executive compensation. It's time to stop pretending otherwise. We're nearing the 250th anniversary of this country's revolution. The system the American founders built, well, was designed to prevent the concentration of power in a few hands. (01:42–01:47)

CLAIM

Asserts that corporate profits have been used for stock buybacks and executive compensation.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Gavin Newsom

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“As AI reshapes the country, every American should own a piece of the future. It builds through a national public equity fund.”
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“Trickle down economics. It's been a, well, nearly 50 year experiment that has failed record.”
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“The system the American founders built, well, was designed to prevent the concentration of power in a few hands. But we've allowed that…”
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