'The rich should pay more' — Bill Gates calls for higher taxes on the wealthy in New Year's Eve blog post

[90DayFinancier 910]

https://markets.businessinsider.com/news/stocks/bill-gates-calls-tax-hike-wealthy-new-years-eve-blog-2020-1-1028791394

 

 

[90DayFinancier 910]

• Bill Gates, the world's second-richest person behind Amazon founder Jeff Bezos, wants rich people to pay higher taxes.
• "We've updated our tax system before to keep up with changing times, and we need to do it again, starting with raising taxes on people like me."
• The Microsoft founder and philanthropist made the comments in a blog post titled "What I'm thinking about this New Year's Eve."
• Gates argued that taxes should be shifted towards investments instead of wages, called for loopholes to be closed and large fortunes to be taxed, and tackled topics such as voluntary taxes, philanthropy, and the impact on enterprise

[Randyandyuni 2,682]

If he truly believes this, he need not wait for changes to the us tax code, to quote mike, just do it 

[Voice of Reason 10,298]

3 minutes ago, Randyandyuni said:

If he truly believes this, he need not wait for changes to the us tax code, to quote mike, just do it 

You should quote Nike instead.

 

But I agree with you.  If he truly feels this way, he can send a check to the IRS at any time.  I’m sure they will cash it.

[Burnt Reynolds 5,058]

1 hour ago, ALFKAD said:

You should quote Nike instead.

 

But I agree with you.  If he truly feels this way, he can send a check to the IRS at any time.  I’m sure they will cash it.

Nike, Mike..

 

 

Found a quote!

 

Anyways, I agree, this is just PR. They can easily give up their own wealth and hand it to the government if they really felt so bad. Much ado about nothing.

 

In the end, what matters is Bill's identity as a billionaire, and the left's confirmation bias obsession. A billionaire said something I agree with, see, my views are now correct and you must adhere!

 

Nah.

Edited January 5, 2020 by Burnt Reynolds

[TBoneTX 46,126]

It's complete virtue-signaling to get potential attackers-of-billionaires off his case.

Emulated by others as well.

[Dashinka 24,800]

6 hours ago, Burnt Reynolds said:

Nike, Mike..

 

 

Found a quote!

 

Anyways, I agree, this is just PR. They can easily give up their own wealth and hand it to the government if they really felt so bad. Much ado about nothing.

 

In the end, what matters is Bill's identity as a billionaire, and the left's confirmation bias obsession. A billionaire said something I agree with, see, my views are now correct and you must adhere!

 

Nah.

 

2 hours ago, TBoneTX said:

It's complete virtue-signaling to get potential attackers-of-billionaires off his case.

Emulated by others as well.

Completely agree, this is just pandering to his would be critics.  As @Randyandyuni stated, if he wants to pay more taxes, just do it.

[cyclone27 710]

Stop running your mouth and write a check if you want to pay the US govt more money for taxes.

[90DayFinancier 910]

I see no arguments above suggest why his ideas won't work or are bad for society. Did anyone read the article?

[Dashinka 24,800]

13 minutes ago, 90DayFinancier said:

I see no arguments above suggest why his ideas won't work or are bad for society. Did anyone read the article?

His first point, why doesn’t the government reduce spending to match revenues?  As to everything else, again, if he wants to pay more, he has that option.

[90DayFinancier 910]

5 minutes ago, Bill & Katya said:

His first point, why doesn’t the government reduce spending to match revenues?  As to everything else, again, if he wants to pay more, he has that option.

That's not really an argument, you could have any number of reductions in spending and the percentage lower income people spends on taxes will still be dramatically higher.

 

Are you proposing a 20% cut in expenditures including defense?

 

 

[Dashinka 24,800]

10 minutes ago, 90DayFinancier said:

That's not really an argument, you could have any number of reductions in spending and the percentage lower income people spends on taxes will still be dramatically higher.

 

Are you proposing a 20% cut in expenditures including defense?

 

 

I would cut the unnecessary departments first like Education, but sure, defense could use some reductions.  Regardless, Gates can keep his views to himself and write a check, we don’t need another rich leftist telling us what should be done.

[Randyandyuni 2,682]

55 minutes ago, 90DayFinancier said:

I see no arguments above suggest why his ideas won't work or are bad for society. Did anyone read the article?

I read the article ... my lack of agreement

with it shows lack of effort to you?

[90DayFinancier 910]

20 minutes ago, Randyandyuni said:

I read the article ... my lack of agreement

with it shows lack of effort to you?

I am pointing out that telling someone to "just write a check if you don't think it's fair" doesn't address his primary concern that the uber wealthy will continue to accumulate excessive wealth because returns on investment are taxed at a far lower rate than taxes on wages.

Edited January 5, 2020 by 90DayFinancier

[Dashinka 24,800]

11 minutes ago, 90DayFinancier said:

I am pointing out that telling someone to "just write a check if you don't think it's fair" doesn't address his primary concern that the uber wealthy will continue to accumulate excessive wealth because returns on investment are taxed at a far lower rate than taxes on wages.

If Mr. Gates wants to raise taxes, and let’s be fair, it would not just be on the wealthy, then let him run for President, and work out a deal with Congress to raise the taxes.