This is Gavin Newsom - BONUS： And, This Is A Lighting Round With The Prof G Pod & Scott Galloway

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00:01:51.020 So I could do this for three hours, but unfortunately, we only have you for about another 18 minutes.

00:01:56.340 So I'm going to do a bit of a lightning round.

00:01:57.920 I'd love to just get your top line thoughts on some stuff, just general reactions.

00:02:02.220 If, again, should, in fact, you at some point have influence over federal policy or national policy, mandatory national service.

00:02:10.040 I mean, are you kidding?

00:02:11.160 You're talking to the guy who's built the largest service corps in the United States of America, significantly larger than the Peace Corps.

00:02:17.800 Someone that has, without going out of my way, been critical of what we try to do on student debt in the last administration without asking for anything in return.

00:02:28.980 I'll give you an example, Scott, because I know you care about higher education, UC system, which, by the way, we've invested since I've been governor, 46 percent increase in investments in the UCs.

00:02:38.760 40,000 more California residents have gotten into the UC system, a 55% increase in dual enrollment,

00:02:48.180 and 65% of people coming out of the UC and CSU still graduate debt-free. I don't know. There's

00:02:54.660 many systems as large, and we still have work to do. I'm not naive about some of your critiques,

00:03:00.560 But one of the things I'm proud of is we provide $10,000 grants for service in return for 450 hours of service contribution.

00:03:12.240 And it's just been extraordinary.

00:03:15.020 Absolutely.

00:03:16.300 We need to make it mandatory.

00:03:17.660 How we do that and scale it, there's some nuance.

00:03:20.540 But I think it would be one of the most significant and consequential things to knit this country back together.

00:03:27.560 $25 an hour minimum wage.

00:03:29.260 Well, I've done it.

00:03:30.340 not talking about it. Only governor country can lay claim to that. $20 for fast food workers,

00:03:36.440 criticized hourly in the Wall Street Journal ed board, and $25 for healthcare workers, $16.90

00:03:43.060 adjusted for inflation for everybody else. But nationwide, it's a disgrace. 20 states

00:03:48.160 have $7.25 minimum wage, and you and I are subsidizing those corporations with our tax

00:03:54.220 dollars with so many other workers that are ending up on the public welfare rolls. And so

00:04:00.220 it is, it's outrageous. It needs to be indexed to productivity and that gets you closer to $25

00:04:05.420 perhaps. 40% of American households have some sort of medical or dental debt. What about lowering

00:04:10.860 Medicare eligibility by a couple of years every year or single payer effectively nationalizing

00:04:15.580 or socializing healthcare in this country? I think it's inevitable. Look, you know, I say this,

00:04:20.520 I don't want to come across as braggadocious, but you're also talking someone who's done more on

00:04:25.080 advancing universal healthcare than any other governor in the country, regardless of pre-existing

00:04:29.380 condition ability to pay. And yes, I've been criticized and I'll take the criticism regardless

00:04:33.580 of your immigration status. We move forward to lowering costs, not just subsidizing costs on

00:04:39.200 pharmaceuticals, created something called CalRx in the spirit of single payer financing for drug

00:04:45.160 purchases. $11 insulin is an example of that. And we've done the same low cost naloxone and

00:04:52.480 we're subsidizing diapers for newborns in California. I think single payer is inevitable

00:04:57.140 in the United States of America.

00:04:58.700 I think the math doesn't add up

00:04:59.960 for the private and public sector.

00:05:02.060 I think the issue of debt and entitlement

00:05:03.400 will be a dominant theme in the next five to 10 years.

00:05:06.540 Both parties have neglected it.

00:05:08.240 Issues of energy and climate change

00:05:10.120 and how we could democratize our economy 0.68

00:05:12.220 to save our democracy being the third leg of that stool.

00:05:15.400 But I do believe it's inevitable that we move forward.

00:05:19.220 How is the difficulty?

00:05:20.440 How the hell do you do it

00:05:21.620 without impacting your private health insurance,

00:05:23.900 my private health insurance,

00:05:25.080 and disrupting, but the math just doesn't add up.

00:05:29.900 And so absolutely, we've got to lean into that debate

00:05:32.400 as I've tried to do here at a state level

00:05:35.060 with ERISA issues, 1115, 1332 waiver issues.

00:05:39.420 Forgive all that.

00:05:40.020 If you're listening, you're already bored,

00:05:41.620 but there are challenges at the state level

00:05:44.080 of getting it done.

00:05:44.800 We push the boundaries in California,

00:05:47.280 but nationwide, I think it is inevitable

00:05:50.720 and needs to happen.

00:05:52.600 So if you live in California 1.00

00:05:54.080 and a high-income earner, what I refer to as a workhorse, mom's a baller, partnered a law firm,

00:05:58.900 dad owns some chiropractic clinics, write certification, work their asses off, make

00:06:03.140 two or three million bucks a year. In New York or in California, they're paying 52, 54 percent.

00:06:08.400 So people regurgitate on the notion that the rich aren't paying their taxes. It feels like it's the

00:06:12.340 owners who qualify or the 0.1 percent people who own assets. A, do you agree with that? And B,

00:06:18.900 what would you do to elevate or create a truly progressive tax system where the owners start

00:06:24.780 paying as much as the super earners, if you will? Well, no, look, if you're a high paid doctor or

00:06:30.820 lawyer accountants and you're getting taxed on income, I get why you're over this, you know,

00:06:35.320 saying what's fair and you blow back. But to your point, the super wealthy aren't paying on income,

00:06:41.380 they're paying on that capital. So we have to address that issue. Question is how the hell

00:06:44.620 you do it. And we talked a little bit earlier about stepped-up basis. We talked about the issue

00:06:49.680 of borrowing, you know, these lifestyle loans, which, you know, we can overstate, but they exist

00:06:56.860 and persist. We could talk about issues around corporate taxation, which is more broad than the

00:07:02.820 issue of individual taxes. We can talk about the issue of transfer of wealth and how we have to

00:07:09.440 address some of the state taxes, these dynasty taxes, these generation-skipping taxes, and how

00:07:14.120 we reform those trusts in this country and how we get to income tax brackets that we once had

00:07:20.340 for the ultra wealthy and the super rich. There's some constitutional questions. It's not me balking

00:07:26.620 on the issue of a wealth tax, but a billionaire tax, absolutely. And we've got to be much more

00:07:34.360 robust in this respect. Now, Biden put out a lot of policies, 25% minimum tax for billionaires.

00:07:40.480 It's not an AMT.

00:07:42.200 It's not the Buffett rule.

00:07:43.840 But, you know, it's in the same genre.

00:07:45.900 So what's the Buffett rule?

00:07:47.680 You get to unrealized capital gains.

00:07:49.920 That gets a little more challenging.

00:07:51.720 How do you mark to market?

00:07:52.820 Easier with equities.

00:07:54.120 We have no choice.

00:07:55.680 The social contract, it's over.

00:07:57.900 It's going to be, and I think it'll be detonated by AI.

00:08:00.940 The imbalance between the rich and poor is the oldest

00:08:03.180 and most fatal ailment of all republics.

00:08:05.360 That's Plutarch warning the Athenians 2,000 years ago.

00:08:09.580 10% of people, only two-thirds of the wealth.

00:08:11.560 Those staying 10%, only 93% of the value of the stock market.

00:08:15.040 This thing, the first trillionaire is coming later this year,

00:08:17.660 maybe next month.

00:08:19.520 I mean, this thing's not working.

00:08:20.820 The pitchforks are already coming out.

00:08:22.740 Molotov cocktails, you know,

00:08:24.580 assassinations on the streets of CEOs.

00:08:27.000 You're feeling it.

00:08:28.160 And we have to get ahead of this.

00:08:29.900 And it's not me begrudging other people's success.

00:08:32.760 Businesses can't thrive in a world that's failing.

00:08:36.140 What does that look like?

00:08:37.080 What would you think of an alternative minimum tax of 40% every time?

00:08:41.600 If you borrow against your assets, that triggers a capital gain.

00:08:44.700 But at a minimum, corporations paying an AMT of, say, 40%, wealthy people, loopholes, you know, be damned.

00:08:52.180 If you're not paying at least 40% above a certain amount, you pay 40%.

00:08:56.760 I mean, it's exactly where we need to go.

00:08:58.860 The AMT, so, I mean, I was looking back at the old AMT the other day.

00:09:02.100 We had some tax experts in looking back. 0.98

00:09:04.860 I had forgotten about the 2017 tax cuts, all the damn loopholes in that. 0.98

00:09:10.780 What a mess that is on the AMT. 0.98

00:09:12.880 But absolutely moving back to along what you just described.

00:09:18.060 I'm not landing prescriptively, but I'm landing absolutely generationally.

00:09:23.220 And I'll say it, I don't want to come across as another throwaway line,

00:09:27.460 but I really believe that the issue of democracy,

00:09:30.260 which I've been very aggressive about in Prop 50, redistricting,

00:09:34.060 calling out Trump and Trumpism, is directly connected with the issue of populism and the

00:09:40.540 economy. And again, unless we democratize the economy, we will lose this republic.

00:09:46.140 And so these are the same fights. It's the same fight. And you're hearing white-collar workers

00:09:52.440 sounding a lot like blue-collar workers. There's a new working coalition here. And so there's

00:09:57.420 aspects of Bernie and Elizabeth and AOC, but in that populism. But we, I think, those that have

00:10:07.340 overseen capitalism as we've known it and the decline, we owe it to people to own up to these

00:10:15.560 trend lines. And we've got to be much more aggressive and assertive. And so AMT, along the

00:10:22.580 lines you suggest, exercising some real stepped up basis strategies that protect farmers, that

00:10:28.560 protect small businesses and particularly business, family owned businesses. This is just table stakes

00:10:35.600 right now and needs to be aggressively adopted and pursued. We want to talk at this in our remaining

00:10:40.920 few minutes here, so it's a little bit more personal. When you look back as your 10 years

00:10:45.520 governor comes to an end, when you, you know, 10, 20 years, 30 years down the road, when you look

00:10:51.160 back, what do you think you'll be, what is the one thing you'll think you'll be most proud of?

00:10:54.100 And what is the one decision or action you think, you know, I missed it there?

00:10:57.800 It's a weird thing because I don't want to, it's almost too easy and lazy. This service

00:11:03.640 commitment, I'm telling you, I'm a Sarge Shriver Democrat. I'm a, I don't know what it is about

00:11:09.380 the vernacular 60s and solving for ignorance, poverty, and disease. You know, I love the Bobby

00:11:14.460 Kennedy, sort of the hard-headed pragmatism. He didn't begrudge other people's success. There was

00:11:19.280 their pragmatism and a muscularity. You know, I think the biggest problem with the Democratic

00:11:24.680 Party is we're perceived rightfully as too slow, weak, and ineffective. We got to be more aggressive,

00:11:30.660 stronger, and more assertive, more clear, more conviction. But this notion of service,

00:11:36.760 you know, the old adage, no one stands taller than when he or she bends down on one knee to help

00:11:40.480 lift other people up. I've seen it in the eyes. We do swearing in, Scott. We do it virtually,

00:11:45.560 and we swear in all the service members.

00:11:48.100 And I'd sit there, I'd start crying.

00:11:50.300 And, you know, first generation Republicans,

00:11:53.120 no one cares.

00:11:54.500 It's just a spirit of community.

00:11:56.640 And these kids, their experience is off the charts.

00:12:00.140 They come out, they say, this changed my life.

00:12:02.540 And so I'm telling you, because it was interesting,

00:12:05.520 my staff was not a huge supporter of this.

00:12:08.120 Legislature, I always have to fight

00:12:09.360 to get the money in this.

00:12:10.540 I'll look back at that as one of the most significant.

00:12:12.920 Also creating these 5.5 million in accounts.

00:12:16.680 I put $1.9 billion.

00:12:18.140 We had a big surplus one year

00:12:19.360 creating these child savings accounts,

00:12:21.380 create a brand new grade, pre-K for all.

00:12:23.700 Every child gets into kindergarten,

00:12:25.560 gets their own savings and career account.

00:12:28.300 Those are things I'm proud of.

00:12:29.440 I can go to all the policies

00:12:30.760 and talk about doubling the earned income tax credit,

00:12:32.560 creating a new foster care and child tax credit.

00:12:34.900 We can talk about that pre-K for all,

00:12:36.560 talk about after school for all, summer school for all.

00:12:38.240 We can talk about everything done on community schools.

00:12:40.240 We can talk about the healthcare expansions,

00:12:41.860 the work we've done on the environment, the work we've done on our jobs plans, this amazing

00:12:46.400 regional plan strategy. I can go on and on, but service, people, mentorship, leadership,

00:12:53.580 addressing this crisis of men and boys, which you've been just next level on, is something I'm

00:12:59.460 proud of, perhaps as much more than others. Backing up, forgive the long-windedness on,

00:13:05.200 we're all geniuses in hindsight. And I think about those early days in COVID when, you know,

00:13:11.220 Ron DeSantis was shutting down the beaches, not just Gavin Newsom in California.

00:13:15.820 We lost a lot of trust during COVID, and we haven't gotten that back.

00:13:23.020 And I think we've under-indexed how so much has changed since COVID.

00:13:27.880 And I was a little slow at understanding how much had changed.

00:13:31.700 And so it's not a specific action per se, but it's, I think, just broader tonal appreciation that everything had changed, but I hadn't changed to the degree that I should as a leader of the fourth largest economy in the world.

00:13:48.640 I have begun to address that in much more robust ways, but I think that would be something I would reflect on as a point of critique and consideration.

00:13:58.560 so a lot of young men listen to the podcast you're a father and a husband four kids is that

00:14:05.620 right governor yeah four two boys two girls what advice or what learnings what what do you think

00:14:10.600 you got right and wrong and what are your learnings and advice you would give to a young

00:14:15.000 man who's thinking about trying to be a good partner and a good father just you you were i

00:14:19.800 i'm so influenced i don't want to brag all over you man but i'm so influenced by what you've

00:14:25.400 written what you talk about in this place. You talk about kindness. Oh, come on. Superpower.

00:14:31.020 Empathy, care, compassion. It's not about power, dominance, and aggression. That said, I do think

00:14:37.220 the notion of, you know, be a man is important. I'm not trying to feminize the frame. But this

00:14:45.060 notion of empathy, I talk to my kids all the time about it. Man, when your friends laugh because

00:14:50.740 someone's accent or how they're talking. Every time my kid does something like that, I literally

00:14:55.680 looked, I grabbed them and look them in the face. You don't talk like that, man. Don't talk like

00:14:59.400 that. It's not who you are. And I create an indelible thing. It's not who you are and talk

00:15:04.880 in those terms. That's not who I think you are. No, it's not who you are. And you want to be a

00:15:09.880 man? You have the back of that kid that's being bullied. You have the back of the kid that's

00:15:14.560 being chastised. That's what masculinity looks like. That's what a leader does. And so

00:15:20.440 to me, that's the superpower I want them to have. And that's, to me, the most important

00:15:27.260 character test. Where I've failed is I struggle with this. You ask about Iran, you talk about

00:15:33.920 Israel, you talk about two years from now. I've just not been as present as I need to be.

00:15:39.840 And this is, you know, I'm not making an excuse, but this is the price of these positions. And

00:15:47.700 I really think about that going forward. My son, he's not all into this stuff. And he's at that

00:15:54.620 critical age. And I don't want to be on that rocking chair. I would have, could have, should

00:15:58.860 have. And so I just think I need to be more present. And it's not what we say, it's what we

00:16:06.620 do. It's how we, you know, he's watching how I treat my wife. He's watching not what I say,

00:16:12.540 what I do and if I'm there for her and I'm around. And so I think about that as a shortcoming.

00:16:20.040 You're in a constant attack as are other political leaders and as is your wife,

00:16:26.360 the first partner. Does that inject stress into your relationship? And if so, how do you deal

00:16:30.800 with it? Yeah, it's brutal. I mean, no holds barred. I mean, you become a caricature. You

00:16:37.920 You become a, you know, I might, come on, turn on Fox.

00:16:40.340 I've, you know, I'm getting the full Hillary Clinton treatment or Pelosi treatment.

00:16:45.180 And you become dehumanized.

00:16:47.800 I worry about that from a safety perspective.

00:16:51.160 And, you know, no holds barred now.

00:16:54.440 It's going after your kids. 1.00

00:16:56.640 You know, I had to pull my daughter out of her school.

00:16:59.540 And we had a, I'll never forget, talk about regrets.

00:17:02.400 Her eighth grade graduation was in our living room.

00:17:05.300 And I was so proud of her, Scott.

00:17:06.340 forgive me, I now, I don't know why I'm getting emotional. I was so proud of her just, you know,

00:17:11.780 in terms of being, you know, a dad. I talked about my sons, about being men, but I was so proud when

00:17:16.840 she gave a speech and I just said, look over my head because then it'll look like, and she looked

00:17:22.420 up and she said, dad, did you see? I never looked down when I gave my graduation speech. It was in

00:17:26.980 front of seven of us. That was the front of the family, her brothers, sisters. And I was just so

00:17:31.100 proud of her, but I was also so upset with myself that she didn't have the experience.

00:17:36.340 being there with her classmates because of some of the stuff related to her dad.

00:17:41.020 And that was the middle of my recall at the time. And so, yeah, when, you know, I remember

00:17:46.120 reaching out to Ted Cruz when someone went after his daughter, you know, and Ted and I, trust me,

00:17:50.680 don't agree on much. But man, we agree on that. Just that's not right. And, you know, people's

00:17:57.060 wise, I guess some cases when, you know, fair game and other cases, it's just hard. So forgive

00:18:02.980 the long one. No one cares. You know, hearing me say this, but as human beings, I just, you know,

00:18:09.840 I know we love to hate politicians, but at the end of the day, it's still parents and they still

00:18:14.980 are husbands, wives, human beings. And, you know, that's why I don't, that's why I have Republicans

00:18:19.440 on my podcast. It's why, man, I, you know, divorce is not an option in life. And that's why service

00:18:25.620 is so important. And we're just going to have to figure all this shit out. And last thing, 0.99

00:18:30.460 Governor, in your book, you were very, quite raw and pretty authentic about your failings as a son

00:18:36.840 towards the end of your mother's life. Can you talk a little bit about that and advice you would

00:18:41.400 have for sons as with aging parents? Well, I just, I called the book Young Man in a Hurry.

00:18:49.060 You know, it was all about me and I was just dealing with my own insecurities, my own anxieties,

00:18:54.900 put a mask on, and tried to be what I thought it needed to be. But my face was starting to grow

00:19:01.700 into it. I was becoming someone I wasn't. And I wasn't present. I wasn't there for my mom.

00:19:06.300 I wasn't there for my sister and the people that mattered most. And it took a phone call from my

00:19:12.740 mom, which you're referring to in a book, where she left a voice message that says everything.

00:19:17.700 Talk about a young man in hurry was never around. She had to leave a voice message

00:19:20.900 saying that her last day in life was a few days later on a Thursday where she was going to do

00:19:27.220 assisted suicide. She was in so much pain because of advanced cancer. And she just left the message

00:19:33.660 saying, well, if you want to see me before then, it will be my last day. And it was such a wake-up

00:19:38.960 call. And, you know, you don't get it over. There are no do-overs here, man. You know,

00:19:44.780 don't dream of it back to dream or regret. I don't want to dream regretting. And, you know,

00:19:48.520 I sat there with her last breath and, you know, it was a tough moment being there with her,

00:19:52.940 holding her hands until she took her last breath. And, you know, I still didn't have the courage

00:19:59.180 to say what I said to her after she passed away. And I stood there 30 minutes, sitting there with

00:20:05.300 my head on her stomach, just saying all the things that I wish I could have said and had

00:20:10.260 the courage and guts to say before she passed. And, you know, I don't wish that on anybody.

00:20:16.280 And so you want to be a man, you want to be a son, you want to be a leader, then, you know, man up, be a partner, be a caregiver, be other people oriented.

00:20:26.900 It's not just about you.

00:20:28.420 And, you know, it came for me a little bit later than it should have.

00:20:32.720 But I hope and pray for others it doesn't for them.

00:20:36.860 Gavin Newsom is an American politician and businessman who serves as the 40th governor of California.

00:20:42.400 Governor, very much appreciate your service.

00:20:44.800 Thank you, Scott.

00:20:45.500 Wonderful to be with you.

00:20:52.000 This episode was produced by Jennifer Sanchez and Laura Jenaire.

00:20:55.560 Cammie Reek is our social producer.

00:20:57.200 Bianca Rosario Ramirez is our video editor.

00:20:59.820 And Drew Burrows is our technical director.

00:21:01.900 Thank you for listening to the Prop G pod from Prop G Media.

00:21:05.040 We'll be right back. 1.00

00:21:35.040 Clearly, I was the idiot. 1.00

00:21:36.240 Thank God he didn't listen to me, right? 0.99

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00:22:23.200 I'm Timbo, and every episode, we're cutting through the noise, breaking down the biggest moments in sports, and giving you the real story behind the headlines.

00:22:31.200 And we're going straight to the source, the athletes themselves, their locker room stories, their reactions in the moment, and the stuff nobody gets to hear.

00:22:38.980 Listen to Sports Slice on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

00:22:44.020 And for more, follow TimboSliceLife12 and the TikTok Podcast Network on TikTok.

00:22:48.280 I'm Michelle McPhee, and I've been unraveling the strangest criminal alliance I've ever reported on. 0.92

00:22:55.480 A Mormon polygamist and an Armenian businessman. 0.98

00:22:59.540 Multi-million dollar house, Ferraris and Lamborghinis, private jets, a billion dollar fraud. 0.95

00:23:04.880 But how long can this alliance last?

00:23:07.800 Tell me what you know.

00:23:09.660 Is somebody coming after me?

00:23:11.480 Listen to Kingdom of Fraud on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

00:23:18.820 This is an iHeart Podcast.

00:23:21.120 Guaranteed human.

This is Gavin Newsom - June 01, 2026

BONUS： And, This Is A Lighting Round With The Prof G Pod & Scott Galloway

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