As fast as people manage to find workarounds for what the government destroys, a Democrat somewhere hatches another awful plan.
That’s exactly what’s happening in California.
First, Newsom destroyed his state’s economy. But what he’s targeting next will leave you red with rage.
California Governor Gavin Newsom recently signed an executive order to create a new bureaucracy to crack down on crypto currency holders.
“California is a global hub of innovation, and we’re setting up the state for success with this emerging technology—spurring responsible innovation, protecting consumers, and leveraging this technology for the public good,” Newsom said in a statement.
Pretty sure crypto millionaires don’t need a bit of “help” from the blue state that’s leading the country in unemployment.
Even before the COVID-19 pandemic Democrats in California created conditions for their state to have the highest poverty rate in the nation with about 15% of all residents falling below the poverty line and another 16.4% were teetering on the edge.
We can only imagine how bad things are after the draconian lockdowns California imposed in 2020 while allowing Black Lives Matter protestors to ransack communities across the state.
Nearly a third of restaurants shut down – and we can only imagine how many more people fell under the poverty line after they lost service jobs thanks to mostly pointless “public health” policies.
Newsom’s wholehearted support of every COVID regime whim also helped the state lose future business from the richest man in the world.
After Newsom shut down his factories, Elon Musk sold his California real estate and moved Tesla’s headquarters to Texas.
So now Newsom is apparently looking around to milk money from anyone left with wealth to fund his super important projects like putting electric vehicle charging stations in the poorest communities in his state (where nobody can afford a new car, much less risk parking one where it would get ripped up).
Of course, Newsom isn’t the only Democrat eyeing crypto wallets with a $3 trillion market cap.
Back in March, Joe Biden also signed an executive order with an eye on creating red tape to cripple the crypto economy.
Biden ordered several agencies to come up with ideas for how the federal government can regulate crypto currency within the next three to six months.
Meanwhile, Newsom – who is nursing Presidential ambitions to an extent that’s painfully obvious – has ordered his regulators to report back in the next 60 days.
This latest move is likely to cause another mass exodus from California – and if the Biden administration pushes its luck, some of the wealthiest crypto owners are likely to leave for friendlier locales around the world.
Stay tuned to Blue State Blues for any updates to this ongoing story.