From 2002 to today, Gavin Newsom's net worth has grown from roughly $6.9 million to over $30 million. 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.
But Gavin Newsom doesn't like that. He and his family made their riches, and now he wants to pull the ladder up behind him. That's because, like all socialists—and Newsom is a socialist at his core—they need just two classes: the rich (them) and the poor (the rest of us).
That's why Newsom is trying to do away with our capitalist system, saying it doesn't work.
Gavin Newsom: "Capitalism as we know it doesn’t work...” pic.twitter.com/WkWXzHiKdU
— RNC Research (@RNCResearch) July 15, 2026
"Something's fundamentally broken here. And that wealth is creating power, power locking in rules and regulations, locking everybody else out," Newsom said. "You can't play on the margins anymore. We can't fail more efficiently. Certainly, nostalgia's not working. I would argue socialism's not gonna work, but capitalism as we know it, doesn't work either."
Well, if we want to talk about rules and regulations, where Newsom's California is one of the most heavily regulated states in the nation, sure. The government has interfered with the free markets (see: health insurance, Section 8 housing, student loans), driving the cost of everything up.
Capitalism works when government gets out of the way. Guard rails, sure. But California terrible policies have destroyed small businesses and driven corporations out of the state.
— Chris Gore (@ThatChrisGore) July 17, 2026
Gore lives in California, so he knows.
Gavin is right. Capitalism as he knows it doesn't work, because he doesn't understand Capitalism. He understands cronyism and bribes. This is why people and businesses flee California despite being the most beautiful place in Earth.
— J (@ARaised_Eyebrow) July 16, 2026
Bingo.
Well, the moral here is that Newsom knows very little.
— Charles X Proxy™ (@Charlemagne0814) July 17, 2026
That much is true.
“I’m moving my hands vigorously and super serious!”
— Ultra Dano (@SuisunDan) July 16, 2026
The hand gestures are always weird.
Sounds like some random book titles he’s considering using. https://t.co/K3D1nME102
— Justine Bateman (@JustineBateman) July 16, 2026
A book that his own PAC will buy so it can be considered a bestseller, no doubt.
Everyone debating whether capitalism or socialism works better (the proper answer is obviously capitalism) when the real reason wealth inequality is widening and the American Dream feels out of reach to so many, is because we print trillions of dollars to service debt. That's… https://t.co/PyyyxrQiIi
— Andrew Kolvet (@AndrewKolvet) July 16, 2026
COVID policies did so much damage.
"Capitalism as we know it doesn't work."
— Rock Chartrand (@RockChartrand) July 16, 2026
As we know it?
You mean the mixed economy where government spending consumes enormous portions of GDP, industries are heavily regulated, markets are manipulated by central banks, subsidies, tariffs, bailouts, zoning restrictions,… https://t.co/PpSsVf45yM
All of this.
Worked great for his family. He’s free to give that all away https://t.co/mrTS6q99W9
— Fusilli Spock (@awstar11) July 16, 2026
He will not do that, ever. He's (D)ifferent.
Much in the same way he was able to dine maskless at the French Laundry during COVID, he gets to keep his wealth, his privilege, his freedom. The sacrifices have to be made by the little guy.