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Gavin Newsom: “This country, 10% of folks own 2/3 of all the wealth in this…”

Featuring: Gavin Newsom, Democratic | Governor of California

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"We will lose our republic" Gavin Newsom on Trump, his childhood & more

Published | Video Starts at 48:27

About 50 AD he was warning the Athenians that the imbalance between the rich and the poor is the oldest and most fatal ailments of all republics 2000 years ago. Warning about this imbalance. I mean, we're talking about the first trillionaires. Yeah. This country, 10% of folks own 2/3 of all the wealth in this country. This is not sustainable. We have got to democratize our economy so we can save democracy. And so there is fundamental restructuring of our economy that needs to take shape. (48:27–48:33)

CLAIM

Asserts that 10% of the population owns two-thirds of the wealth in the United States.

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PolitiQuote is a civic library index to statements made by politicians in publicly available video records. The index is created automatically from transcripts, with no editorial oversight or analysis. Highlighted quotes are selected by AI. Words may be added in parentheses to offer context for the quote. There may be errors in the transcription and display, so listen to the video to ensure accuracy.

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