‘INSANITY’: California billionaire tax could set 'VERY DANGEROUS' precedent

‘The Big Money Show’ debates Gov. Gavin Newsom's support for Prop. 42 as California voters weigh a proposed 5% billionaire wealth tax. #foxbusiness #bigmoneyshow 00:00 - California's 5% Billionaire Tax Sparks Ballot Battle 00:25 - Newsom BACKS Prop 42 as Economist SLAMS Rival Measure 01:18 - USC Professor WARNS About Taxing Billionaires 02:19 - Panel CLASHES Over Wealth Exodus and National Tax Plans 05:08 - Billionaire Tax Fears HIT Tech Founders and Startups Subscribe to Fox Business: https://bit.ly/2D9Cdse Watch more Fox Business Video: https://video.foxbusiness.com Watch Fox Business Network Live: http://www.foxnewsgo.com/ FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television. In 2025 it opened the year posting double-digit advantages across business day, market hours and total day viewers in January. Additionally, the network continued to lead business news programming, with each business day program placing among the top 15 shows, while FBN delivered its highest-rated month since April 2023 with market hours. Follow Fox Business on Facebook: https://www.facebook.com/FoxBusiness Follow Fox Business on Twitter: https://twitter.com/foxbusiness Follow Fox Business on Instagram: https://www.instagram.com/foxbusiness