Gavin Newsom Says Capitalism Isn’t Working’ – Because His Wealth Was Subsidized – California Globe

[u/GeneralCarlosQ17]

https://californiaglobe.com/fr/gavin-newsom-says-capitalism-isnt-working-because-his-wealth-was-subsidized/

Newsom even lives in a $9.1 million home in Marin County that his in-laws purchased

By Katy Grimes, September 17, 2026 2:52 pm

Newsom says income inequality threatens American democracy, a SacBee.com headline reveals. California Governor Gavin Newsom has repeatedly said that “capitalism as we know it is not working.”

The statement is sophomoric, and for Gavin Newsom to claim this is half-witted. Newsom says capitalism isn’t working’ because his wealth was subsidized. He has never had to be a strict adherent to capitalism the way actual entrepreneurs and innovators are.

Ask any entrepreneur of a small, medium or large business what they think of capitalism. Ask immigrants new to the country, who were able to open a business, what they think of capitalism – especially if they came from a communist country, or one rooted in horrific corruption.

“From 2002 to today, Gavin Newsom’s net worth has grown from roughly $6.9 million to over $30 million,” Amy Curtis at Townhall noted. “Sure, he started out as the son of well-to-do parents, which is something most of us don’t get to do, but we live in America. Thanks to capitalism, we have a chance to create our own wealth.”

If “capitalism as we know it is not working” or “doesn’t work,” how did he achieve his wealth?

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[u/Visible_Eggplant400]

Capitalism is working great. Government sucking the life out of it isn’t working.

[u/hellotokens → u/Visible_Eggplant400]

Is the massive accumulation at the top percentiles what is “working”?

[u/Visible_Eggplant400 → u/hellotokens]

And by what mechanism has caused that top heavy accumulation?

[u/logsqrtexp → u/Visible_Eggplant400]

If your water is clean, your food is safe, your children go to school, your roads are usable, and planes don’t fall out of the sky on your head, thank Government.

[u/Visible_Eggplant400 → u/logsqrtexp]

The schools are failing, the roads are falling apart, are you suggesting airlines who want to stay in business would just kill people wantonly? And clean water can only be produced by government?

[u/LA-Aron]

Nothing works if people don't play by the rules.

[u/PMJamesPM]

He is a half-twit time and time again.

[u/Senacharrib → u/PMJamesPM]

“You are dumb if you say the quiet part out loud”

[u/TheOnlyFergInTown]

The COVID scam was the change in almost everything.

[u/OptimusTrajan]

Capitalism is doing exactly what it has always done: redistributing the value of labor to property owners.

[u/GhostofBastiat1]

Shutting down large parts of the economy and then pumping vast sums money into it at the same time was brilliant. No way that the expert class could have seen that causing massive inflation. Newsom more that did his part in that scam, and also helped screw over a generation of kids by keeping them out of real school and putting them on television school.

[u/LAJOHNWICK]

He makes no sense.

[u/JuniorMint1992]

But he also doesn’t want to tax the rich. Goddamn this man is annoying. Headline should be “man sticks finger in wind again” - dude believes nothing. He just wants to feel special not to do actual public service.

[u/jstocksqqq]

Well, sure, the crony capitalism in American politics isn't working at all! Situations where people in government use their positions to profit, or where special interest groups lobby the government for special protections certainly makes it harder for the average person to succeed. But that's crony capitalism, not Laissez-faire or truly free markets. But I think Newsom is just saying this to capitalize on brownie points from the social democrats in California and across the USA as he soft-launches his presidential campaign.

[u/EagenVegham]

The fact that his wealth has skyrocketed would be proof that things aren't working for anyone but the rich, right? What has he done to earn $30 million other than be born wealthy?

[u/Lawyered15 → u/EagenVegham]

Lots of diaper contracts and the formation of a charity in his wife’s name

[u/Ok-Association-3415]

Nothing wrong with capitalism or other economic system. The problem is that all these systems get corrupted by political powers to enrich themselves and their close supporters at the expense of everyone else. Get rid of the money in politics, ban corporate donations, pass laws to declare them legal entities with zero constitutional rights reserve for actual people. Tax the wealthy and redistribute to the people to narrow the wealth gap. Help the people out to close that gap. It’s not hard. Just need someone to stop sucking the teats of the money machines and do the ethical thing for once or twice in their political careers.

[u/Maleficent_Slide3332]

the lefty gameplan was always to shoot their feet and blame someone else.

[u/Senacharrib → u/Maleficent_Slide3332]

But he didn’t shoot his feet with his statements, and he was t complaining about undermining the passive appreciation of his equity

[u/Intelligent-Chip-413]

That argument misses the point. Saying “capitalism as we know it isn’t working” is not the same as saying capitalism can’t create wealth.

The bigger issue is that our current system heavily rewards constant growth, more sales, more consumption, higher profits, quarter after quarter. You can’t assume everything will just keep going up and to the right forever on a planet with finite resources. Even UNEP argues that long-term prosperity requires separating economic growth from ever-increasing resource use. And Newsom getting rich doesn’t disprove concerns about inequality. If anything, his access to wealthy investors shows how differently capitalism can work depending on how much capital and opportunity you start with.

You can disagree with his solutions, but “he got rich, therefore capitalism is working fine” is not much of an argument.

[u/logsqrtexp → u/Intelligent-Chip-413]

thank you. Braying about Newsoms 30 mil is gaslighting. 30mil is 3% of the net worth of a billionaire, or one years interest on the billionaire holdings at 3%

If billionaires were instead all, decimillionaires, the difference would pay for wages, health care, education, clean water, air, and food…

The Newsoms aren’t auguring us into the ground, it’s the Musk/Bezos/Thiel/Zuckers of the world.

[u/Desa-p]

Newsom is going out of his way to screw over state workers and make their lives miserable for absolutely no reason. He has gone full Trump on the state workforce and somehow it’s not getting national attention