California gubernatorial candidate Steve Hilton slams the state’s homelessness crisis as a ‘total failure of the ruling class’ under Gov. Gavin Newsom. Hilton criticizes the billions spent with no results as Skid Row conditions worsen.
California Republican gubernatorial candidate Steve Hilton is warning that a proposed billionaire tax would further strain the state’s economy, arguing that California is already losing businesses, investment and tax revenue as residents grapple with high costs.
California gubernatorial candidate Steve Hilton joined FOX Business’ Maria Bartiromo on “Mornings with Maria” to discuss the proposal, which opponents say could drive more wealthy residents and employers out of the state if enacted.
Steve Hilton, Republican gubernatorial candidate for California, speaks to members of the media outside the California State Capitol in Sacramento, California. (Jason Henry/Bloomberg / Getty Images)
“It’s already cost California billions of dollars in lost tax revenue because of the amount of wealth that’s already left the state,” Hilton said. “Just because of the threat of this insane tax.”
CALIFORNIA DEMOCRATIC PARTY BACKS CONTROVERSIAL BILLIONAIRE WEALTH TAX PROPOSAL THAT’S ON STATE’S 2026 BALLOT
Lawmakers backing the proposal argue the state’s wealthiest residents should contribute more, while opponents contend California’s existing tax burden is already encouraging people and companies to relocate. Hilton argued the state’s top earners already shoulder a significant share of California’s income tax collections and questioned whether higher taxes would improve public services.
California gubernatorial candidate Steve Hilton discusses the state’s economic challenges, including the billionaire tax fight, minimum wage increases, the homelessness crisis, and energy debates surrounding tech data centers.
Beyond the billionaire tax debate, Hilton said rising labor costs, energy prices and regulations are making California less competitive. He argued repeated minimum wage increases create “a kind of doom loop” by raising business costs, which are then passed on to consumers.
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Hilton also warned that businesses are scaling back hiring, increasing automation or leaving the state altogether because operating costs have become too high.
FOX Business contributor Josh Schafer discusses the California Democratic Party’s endorsement of a billionaire tax and raises questions on the revenue on ‘The Big Money Show.’
“If we don’t face up to the reality, California’s economy is going to absolutely collapse,” Hilton said.
Hilton said he would instead pursue lower taxes, reduced government spending and fewer regulations, arguing those policies would help attract employers, expand investment and make California more affordable for residents.
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