In Munich, Democrats pledge a return to wealth taxes and climate hysteria

Newsletters Morning Report 12:30 Report Evening Report Business Defense Health Care Technology Newsletter Energy & Environment Whole Hog Politics The Gavel The Movement

Technology Newsletter

News Senate House Administration Courts Future America Media Campaign News Education In The Know Latino LGBTQ DC News Race & Politics State Watch Print Edition People in the News

Policy Defense Health Care Energy & Environment Technology Transportation International Cybersecurity National Security Space Sustainability

Business Budget Taxes Personal Finance Lobbying

Opinion Columnists Congress Blog All Contributors Opinions – Campaign Opinions – Civil Rights Opinions – Criminal Justice Opinions – Cybersecurity Opinions – Education Opinions – Energy and Environment Opinions – Finance Opinions – Healthcare Opinions – Immigration Opinions – International Opinions – Judiciary Opinions – National Security Opinions – Technology Opinions – White House Submit Opinion Content

All Contributors Opinions – Campaign Opinions – Civil Rights Opinions – Criminal Justice Opinions – Cybersecurity Opinions – Education Opinions – Energy and Environment Opinions – Finance Opinions – Healthcare Opinions – Immigration Opinions – International Opinions – Judiciary Opinions – National Security Opinions – Technology Opinions – White House

Opinions – Civil Rights

Opinions – Criminal Justice

Opinions – Cybersecurity

Opinions – Energy and Environment

Opinions – Healthcare

Opinions – Immigration

Opinions – International

Opinions – National Security

Opinions – Technology

Opinions – White House

Submit Opinion Content

Events Upcoming Events About

Content from Google Cloud

Obama praises Minnesota protesters, calls ‘rogue behavior’ of federal agents ‘deeply concerning and dangerous’ Administration | 35 minutes ago

Christie: Trump admin putting up ‘a bunch of ham sandwiches’ and grand juries not indicting them Court Battles | 1 hour ago

Trump announces Board of Peace members have pledged more than $5B toward Gaza International | 1 hour ago

Opinion Transportation policy is incomplete without housing Congress Blog | 2 hours ago

Beshear on tension between White House and governors: ‘It’s just a lot of drama’ State Watch | 2 hours ago

Opinion ICE raids can revive Democrats’ multiracial coalition Opinions - Campaign | 3 hours ago

Grand juries take on growing importance amid Trump’s legal retribution campaign Court Battles | 3 hours ago

MAP: Which states have the most measles cases in 2026? News | 3 hours ago

In Munich, Democrats pledge a return to wealth taxes and climate hysteria

This week, California Gov. Gavin Newsom (D) joined the many Californians now seeking their fortune elsewhere. The difference is that Newsom is planning to come back to California, even as billionaires, investors, and companies flee his state for greener pastures.

Newsom and Democrats such as Rep. Alexandria Ocasio-Cortez (D-N.Y.) were selling a brave new world that looked a lot like the broken old world. It was an ironic moment. They were addressing countries at the Munich Security Conference that had previously destroyed their economies through socialist and far-left policies.

The rush of liberal Democratic officeholders to Europe was telling. A new poll shows that a record 58 percent of voters believe their party is “too liberal.” But Newsom and Ocasio-Cortez found a welcoming audience in Europe.

The global elite gushed over Ocasio-Cortez and sat enraptured as she rattled off socialist platitudes. That included New York Times correspondent Katrin Bennhold, who thrilled the audience by treating it as a given that Ocasio-Cortez will run for president.

Both Newsom and Ocasio-Cortez spoke of returning the U.S. to the good graces of the global elite. Newsom assured the Europeans that Trump’s reign is temporary, and that the U.S. will soon enough dismantle the “wrecking ball” that the administration has taken to the EU.

Newsom offered his leadership and his state as the model, proclaiming that “California is a stable and reliable partner” for Europe. The model includes high taxes, massive spending programs and greater bureaucratic regulations — precisely the policies that have driven the European economy into its current stagnation. In other words, Democrats were in Europe to offer precisely what Newsom outwardly condemned: “doubling down on stupid.”

When not fumbling with security questions about issues such as Taiwan, Ocasio-Cortez was demanding that wealth taxes be implemented in the U.S. “expeditiously.” Such a tax on billionaires’ wealth, including unrealized gains, is currently being pushed in California. The predictable result is that billionaires and other wealthy citizens are rushing to leave the state and taking their investments and companies with them.

Ocasio-Cortez had the audience at hello.

Rather than having Vice President J.D. Vance shaming them for their attacks on free speech, the Europeans positively gushed over Democratic leaders pushing far-left agendas. It did not matter that such policies devastated European economies in the 20th century.

In my book “Rage and the Republic,” I discuss the rise of support for socialism in both the U.S. and Europe. Many of those supporting it are young voters with no memory of the collapse of socialist economies in the 20th Century. In 1977, Labour Prime Minister James Callaghan pursued many of the same socialist policies, leading to what was called the “winter of discontent” as inflation hit 25 percent. With the collapse of the British pound, the United Kingdom had to take the demoralizing step of securing a loan from the International Monetary Fund, as if it were a developing country.

In France, François Mitterrand was also elected to pursue his “rupture with capitalism.” The French economy collapsed; Mitterrand quickly had to reverse himself and restore capitalist policies.

That history is rarely discussed or taught today. The “warmth of collectivism,” as New York Mayor Zohran Mamdani put it, is back in vogue. It does not matter that, in Argentina, President Javier Milei is achieving one of the most impressive economic turnarounds in history — dramatically curtailing runaway inflation, government deficits and poverty — by reinstating free-market policies and reducing government spending.

What is chilling about Europe is that the EU has strangled growth with its increasingly centralized controls and massive bureaucracy. My book describes the instability of the EU and its global governance model. Europe is facing populist movements and, like many Democrats, the response has been calls for further consolidation of power. This included the creation of a new, uniform European corporate law, known as the “28th Regime.”

With an economy crushed by a massive EU bureaucracy and regulations, the solution of many is all too familiar: borrow more money. French President Emmanuel Macron and others want to issue “Euro bonds” to spend their way into an economic recovery — another policy ideal shared with many on the American left.

This week was only the latest effort of the American left to strengthen an alliance with the EU. Previously, American leaders such as Hillary Clinton pushed the EU to censor Americans online after free speech protections were restored by companies like Twitter. Likewise, the American left is enamored with the EU’s global bureaucracy and regulations.

Newsom and Ocasio-Cortez certainly found their element in Munich, and the EU certainly found the “reliable partners” it has longed for in creating “a new World Order with European Values.”

Jonathan Turley is the Shapiro Professor of Public Interest Law at George Washington University. He is the author of the New York Times bestselling “Rage and the Republic: The Unfinished Story of the American Revolution.”

More Opinions - International News

Noem boasts of Trump administration ensuring ‘we have the right people ...

Lincoln tops presidential rankings; Trump records most ‘poor’ marks: Poll

Retired Army general predicts ‘formidable’ US military action against Iran ...

CBP official charged with harboring girlfriend who is in US illegally

Homan says he doesn’t ‘know’ meaning behind Noem’s ‘right ...

Grand juries take on growing importance amid Trump’s legal retribution ...

Ty Cobb rips Trump admin over political attacks: ‘All those people should be ...

DOJ sends letter to Congress with list of people named in Epstein ...

The 10 college majors with the lowest unemployment

US ambassador to NATO: ‘We need strong allies, not dependents’

Christie: Trump admin putting up ‘a bunch of ham sandwiches’ and grand ...

Crowded California governor’s race creates opening for Republicans

GOP senators view Lutnick’s contacts with Epstein as political liability

Bondi faces MAGA media backlash after hearing on Epstein

US catches case of New World screwworm. What can be done to stop its spread?

In Munich, Democrats pledge a return to wealth taxes and climate hysteria

German Chancellor Merz says US leadership ‘lost,’ calls for repair of ...

2024 Election Results

2024 Election Forecast

Regulation - Administration

Energy & Environment Video Clips

Health Care Video Clips

Technology Video Clips

Transportation Video Clips

International Video Clips

Cybersecurity Video Clips

National Security Video Clips

Contributors to The Hill

Submit Opinion Content

Advertise with Nexstar

Journalistic Integrity

THE HILL 400 N CAPITOL STREET NW, SUITE 650 WASHINGTON DC 20002

Provided by Nexstar Media Group, Inc.

By clicking on any of the sign up options below, you confirm that you have read and agree to our Terms of Use, which includes a jury trial waiver and class action waiver, and that you have read our Privacy Policy detailing our collection, use and sharing of your personal information.

The Hill is provided by Nexstar Media Group, Inc., and uses the My Nexstar sign-in, which works across our media network.

Learn more at nexstar.tv/privacy-policy.

The Hill is provided by Nexstar Media Group, Inc., and uses the My Nexstar sign-in, which works across our media network.

Nexstar Media Group, Inc. is a leading, diversified media company that produces and distributes engaging local and national news, sports, and entertainment content across its television and digital platforms. The My Nexstar sign-in works across the Nexstar network—including The CW, NewsNation, The Hill, and more. Learn more at nexstar.tv/privacy-policy.

Provided by Nexstar Media Group, Inc.

Check your email inbox

Provided by Nexstar Media Group, Inc.

Thanks for registering!

Provided by Nexstar Media Group, Inc.

Are you sure you want to log out?

© The Hill

visit website