‘The Big Money Show’ debates Gov. Gavin Newsom’s support for Prop 42 as California voters consider a proposed 5% billionaire wealth tax.
Actor Mark Ruffalo criticized California Governor Gavin Newsom over his opposition to the proposed billionaire wealth tax, accusing Democrats of favoring wealthy interests over working families and questioning his suitability for higher office.
“It’s beyond sad,” Ruffalo sent in X. “It’s beyond disappointment; at this point, it’s disqualifying for anyone with ambitions for higher office as a Democrat, or Republican, for that matter, to fight to keep billionaires from being taxed while children don’t have health insurance and the cost of living is sky-high.
Ruffalo’s comments come a few weeks before Californians head to the polls to vote on Proposition 40, a ballot initiative that will impose a one-time tax equal to 5% of the net worth for billionaires who are Californians on January 1, 2026, if approved.
The tax will be paid in 2027, although payments can be spread over five years at an additional cost. Real estate, pension and retirement accounts are generally exempt from taxation.
CALIFORNIA ENTREPRENEUR WARNS BILLIONAIRE WEALTH TAX COULD PUSH ‘GIANTS’ OUT OF BUSINESS
Actor Mark Ruffalo blasted California Gov. Gavin Newsom about his stance on taxing billionaires as voters prepare to vote on competing tax measures in November. (Karwai Tang/WireImage; Justin Sullivan/Getty Images/Getty Images)
While the measure has been endorsed by the California Democratic Party, some prominent Democrats, including Newsom, oppose it.
Ruffalo said there when reposting criticism from Rep. Ro Khanna, D-Calif., a supporter of the billionaire wealth tax who objected to Newsom’s support for Proposition 42, a separate measure on the November 3 vote.
Proposition 42 would prohibit California from imposing new state taxes on the ownership of financial assets and other personal property and certain retroactive taxes. If approved, it could prevent Proposition 40 from taking effect.
Khanna’s post included an image of a Newsom-backed ad urging Californians to vote “yes” on Proposition 42.
Ruffalo also criticized Newsom’s political image, arguing that the governor, who has been discussed as a potential Democratic presidential candidate in 2028, should focus on economic issues rather than his public personality.
ECONOMY REAGAN WARNS BILLIONAIRE TAXES WILL ‘RUIN’ CALIFORNIA
Actor Mark Ruffalo has criticized California Governor Gavin Newsom over his opposition to a proposed billionaire wealth tax, calling the governor’s position “disqualifying” for higher office. (Hoda Davaine/Getty Images/Getty Images)
“Gavin, we’re not looking for the Democratic version of Trump. It’s a good goof. Please try something else. It’s exhausting,” Ruffalo said.
“People need champions, people. Real, bona fide champions who aren’t just tough in tweets or press conferences, but tough when it comes to the real imbalances people deal with every day: billionaires vs. people and planet.”
Ruffalo also accused Newsom of repeatedly putting business interests ahead of ordinary Californians.
“A lot of times, they put corporate interests over the welfare of the people, even if the bipartisan legislature voted for them,” he said.
MARK CUBAN TELLS RO KHANNA ‘YOU DON’T UNDERSTAND BUSINESS,’ THREATENS BILLION TAX INVESTMENT CHOICES
California Governor Gavin Newsom has written opposition to the proposed one-time wealth tax on the country’s billionaires. (Brandon Bell/Getty Images/Getty Images)
Other prominent figures, including billionaire Mark Cuban, have spoken out against the proposed wealth tax.
California businessman Eric Schiffer, chairman of the Patriarch family office and CEO of Reputation Management Consultants, previously told FOX Business that the proposed tax could drive entrepreneurs and business leaders out of California.
“I think the impact of this passing in California is a giant suction sound of all these entrepreneurs being sucked out of California because they don’t want to stay,” Schiffer said.
CLICK HERE TO GET FOX BUSINESS ON THE GO
Ruffalo also asked Newsom to reconsider his position.
“I hope Gavin comes to his senses and walks again. It’s crazy that this is what he chose to spend his political capital on, and it’s part of his legacy.”
FOX Business has reached out to Newsom’s office for comment.