'The rich should pay more' — Bill Gates calls for higher taxes on the wealthy

[fluffydelusions]

• 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.
• View Business Insider's homepage for more stories.

Billionaire Bill Gates wants rich people to pay higher taxes.

"I've been disproportionately rewarded for the work I've done," the Microsoft founder and philanthropist said in a blog post titled "What I'm thinking about this New Year's Eve."

"The rich should pay more than they currently do, and that includes Melinda and me," Gates added, referring to his wife and cofounder of the Bill & Melinda Gates Foundation.

"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," he said. The taxes should be spent smartly to "build a healthier, more equitable world for all," he added.

Gates is worth about $113 billion, making him the world's second richest person behind Jeff Bezos, according to Bloomberg's billionaires index.

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https://markets.businessinsider.com...-wealthy-new-years-eve-blog-2020-1-1028791394

 

[Deleted member 15428]

https://www.resetera.com/threads/bi...chest-person-i-need-to-pay-higher-taxes.24644

 

[fluffydelusions]

https://www.resetera.com/threads/bi...chest-person-i-need-to-pay-higher-taxes.24644

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Similar but this article is referencing his post from a few days ago

 

[Admiral Woofington]

It's ridiculous the mentality of getting so rich and refusing to give back. Particularly when you csnt realistically spend that money in your lifetime.

 

[XenodudeX]

He's been saying this for years. Good on him from reiterating though.

 

[Quantza]

He's not wrong (especially regarding the focus on investment), and it's worrying that he has to keep saying this, given his position.

 

[Mage_of_Cinder]

Maybe they should lobby for it. This isn't the first time I've heard this, and I'm in favor of it just to work on getting the national debt down.

 

[Deleted member 50540]

Doesn't he still object to Warren's wealth tax?

 

[Zen]

It's ridiculous the mentality of getting so rich and refusing to give back. Particularly when you csnt realistically spend that money in your lifetime.

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Money is power. When people amass a lot of power, they don't want to part with it. FYGM mentality

 

[whatsinaname]

lol, every rich dude wants to set their own level of taxes. "Oh I should pay more than now" but "oh, not too much".

Him misinterpreting and whinging about Warren's tax numbers says it all.

 

[Azuran]

I will never understand why random Joes living in rural Nebraska are so against taxing the rich.

Tax the fuck out of anyone that has a billion. They don't need to hoard all of that money.

 

[Frank]

Tax rates are fine. The problem is hiding money so it can't be taxed. That's what needs to be addressed.

 

[VariantX]

Maybe they should lobby for it. This isn't the first time I've heard this, and I'm in favor of it just to work on getting the national debt down.

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Thats what I'm wondering. The rich don't just pay lip service and say they want to pay less taxes, they go and spread their money and influence around to make sure that happens when they both get the people they want elected and send people to lobby for that. When they want the opposite as far as I know, they aren't doing anything beyond a statement or an op-ed.

 

[Deleted member 8861]

Wasn't this chud signaling he'd vote for Trump over Bernie due to taxes a month ago?

 

[Pockets]

He's just speaking out both sides of his mouth.

 

[Muppet of a Man]

A smart person like Gates who typically does not cynically argue in bad faith has to eventually hear the message from people like Rutger Bregman and Winnie Byanyima: tax avoidance IS the problem....philanthropy is the cover up.

 

[lamaroo]

I will never understand why random Joes living in rural Nebraska are so against taxing the rich.

Tax the fuck out of anyone that has a billion. They don't need to hoard all of that money.

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One day they might be just as rich, and would like to keep their money too.

They won't be rich

 

[EloKa]

Wasn't this chud signaling he'd vote for Trump over Bernie due to taxes a month ago?

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Nah, someone made a thread about a Gates interview but cut out specific parts of his quotes to make it sound bad.
For some reason Era has a (historic) hate boner against Gates and often jumpes onto anything that paints him in a bad picture.

 

[¡ B 0 0 P !]

Bill Gates is just jealous of rich people. He should stop being lazy and work to improve himself. /s

 

[Teh_Lurv]

Doesn't he still object to Warren's wealth tax?

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He did last time I checked. The super rich can easily manipulate their income to reduce their tax burden. That's harder when you're basing tax on total Worth

 

[Toxi]

Maybe they should lobby for it. This isn't the first time I've heard this, and I'm in favor of it just to work on getting the national debt down.

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The Gates launched a dedicated lobbying group this year.

The Gates Policy Initiative, which was announced on Thursday, will work with lawmakers on issues such as global health, global development, moving people from poverty to employment, and education for black, Latino, and rural students.

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Not sure if it's lobbying for this tax reform, but at least it seems to be lobbying for higher public spending.

 

[808s & Villainy]

Wasn't this chud signaling he'd vote for Trump over Bernie due to taxes a month ago?

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Not unless you willfully misinterpreted what he said or lack reading comprehension

Doesn't he still object to Warren's wealth tax?

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Being for higher taxation doesn't mean he has to be for her specific plan. People on here keep acting like this is a binary choice. Like you're other for a specific implementation of a policy or entirely against it

 

[MeetMyBackhand]

It's ridiculous the mentality of getting so rich and refusing to give back. Particularly when you csnt realistically spend that money in your lifetime.

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Well, you can spend it, but on stupid crap nobody needs...

 

[Muppet of a Man]

Tax rates are fine. The problem is hiding money so it can't be taxed. That's what needs to be addressed.

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But they aren't fine:



They are effectively flat (not effectively progressive as they should be) with the uber rich paying a significantly lower effective tax rate than everyone else.

 

[skeptem]

Tax rates are fine. The problem is hiding money so it can't be taxed. That's what needs to be addressed.

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It's both. But your first statement is wildly incorrect.

 

[Deleted member 198]

lol, every rich dude wants to set their own level of taxes. "Oh I should pay more than now" but "oh, not too much".

Him misinterpreting and whinging about Warren's tax numbers says it all.

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It's the same as Facebook suddenly caring about people's privacy. They want to set the rules.

 

[jelly]

His idea of investment is actually quite smart if it was a totally incorruptible process as well as not pissing away money on the military machine in the US going with direct taxation. Just a shame the US is a disaster on that front that you could have billions more in tax from the rich and it would probably vanish into a black hole mostly. Doesn't mean you shouldn't do it, what government runs like clockwork but the US needs fixed along with taxing more.

 

[Deleted member 50540]

He did last time I checked. The super rich can easily manipulate their income to reduce their tax burden. That's harder when you're basing tax on total Worth

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Not unless you willfully misinterpreted what he said or lack reading comprehension


Being for higher taxation doesn't mean he has to be for her specific plan. People on here keep acting like this is a binary choice. Like you're other for a specific implementation of a policy or entirely against it

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I mean I really don't care what Gates has to say either way, but his reasoning as to why he was against the wealth tax was that he didn't want to pay much more than 20 billion in taxes even though that would still leave him a billionaire. This doesn't seem to me like arguing about implementation details but like a fundamental hypocrisy in how he presents himself as a "good" billionaire and the whole point of taxes in the first place

 

[deftones r cool]

I will never understand why random Joes living in rural Nebraska are so against taxing the rich.

Tax the fuck out of anyone that has a billion. They don't need to hoard all of that money.

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Because their president wears a trucker hat just like them and tells them taxation is theft.

 

[Dark Cloud]

It's good to hear him say this.

 

[EloKa]

I mean I really don't care what Gates has to say either way, but his reasoning as to why he was against the wealth tax was that he didn't want to pay much more than 20 billion in taxes even though that would still leave him a billionaire. This doesn't seem to me like arguing about implementation details but like a fundamental hypocrisy in how he presents himself as a "good" billionaire and the whole point of taxes in the first place

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Could you please point out exactly where he's arguing that he doesn't want to pay more much more than 20 billion?
I've linked the interview with the exact time stamp where he says that it's fine when he has to pay 20 billion to make it easier for you:

 

[Deleted member 60096]

funny considering he was shitting himself over the possibility of having to pay 1 more billion than he wanted a few months ago

 

[Deleted member 50540]

Could you please point out exactly where he said that he's arguing that he doesn't want to pay more much more than 20 billion?
I've linked the interview with the exact time stamp where he says that it's fine when he has to pay 20 billion to make it easier for you:

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That's why I said he didn't want to pay more than 20 billion?

Here's the quote from marketwatch: :I've paid over $10 billion in taxes. … I've paid more than anyone in taxes, but I'm glad to — if I'd had to pay $20 billion, it's fine. But when you say I should pay $100 billion, then I'm starting to do a little math about what I have left over."

To his credit (maybe?) he says that he is kidding afterward but then goes on to talk about the need for an incentive system

 

[Deleted member 49482]

You know what would be great for the general voting population? If some of these like-minded billionaires formed a coalition and sort of marketed/advertised this idea more.

Like, get out some basic bullet points about how unbelievably wealthy they are, put into better perspective how much a billion really is, how laughably low their effective tax rate is vs. the middle class and historically, how little a tax increase would effect them, and what could potentially be funded with taxes that focus on ultra high net worth individuals.

Would it be "class warfare" and "picking on billionaires" if themselves say it's irresponsible for you to not tax them more? I'd like to see a general populace reaction if say Gates went on the late night talkshow circuit and explained that, hypothetically, his great great great great great great great grandchildren would never have to work a day on their life and will still make more money than you'll make in your entire life based on the inheritance they could receive and investment returns. (Hypothetically - I know he has pledged to "donate" 99% of his wealth.)

 

[MegaManTrigger]

Bill Gates saying this knowing that he benefits from the whole tax claims off donations.

Also, wasn't he the one who said rich people get taxed too much?

Absolute hypocrisy.

 

[Deleted member 19218]

With such an inspiring public image I sometimes wonder if he is secretly Batman.

 

[Whitemex]

 

[KidAAlbum]

The Gates launched a dedicated lobbying group this year.


Not sure if it's lobbying for this tax reform, but at least it seems to be lobbying for higher public spending.

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Didn't he lobby for chartered schools? Technically he wouldn't be lying (above quote) by saying more effort is involved for the public, but he prefers doing it through his method, rather than taxation for public services. This I massively disagree with.

 

[_Karooo]

How do you tax his illiquid money?

 

[Toxi]

Didn't he lobby for chartered schools? Technically he wouldn't be lying (above quote) by saying more effort is involved for the public, but he prefers doing it through his method, rather than taxation for public services. This I massively disagree with.

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You would be correct. Thanks for checking me there.

I think the Gates are genuine about philanthropy and I don't agree at all with the cynicism I've seen here about the Gates Foundation, but at the end of the day they're still old rich white people who spend all their time around old rich white people. Even when they have the right idea, it is still through the lens of money.

 

[Idde]

That's why I said he didn't want to pay more than 20 billion?

Here's the quote from marketwatch: :I've paid over $10 billion in taxes. … I've paid more than anyone in taxes, but I'm glad to — if I'd had to pay $20 billion, it's fine. But when you say I should pay $100 billion, then I'm starting to do a little math about what I have left over."

To his credit (maybe?) he says that he is kidding afterward but then goes on to talk about the need for an incentive system

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Come on man, it's obvious in the video he's joking about how filthily rich he is. That he already payed a lot of taxes, but if he'd have to pay a 100 billion...well...then he'd have to do some calculations. It's obvious even without the disclaimer that he's joking. He's also veeeery heavily implying he'd vote for everyone else over Trump by saying he wants to vote for someone who is the least bit professional.

 

[Soliloquy of a Dogge]

Bill Gates has said this over and over and over again.

Which seemed to be ignored when the quote regarding Elizabeth Warren's tax plan was taken ridiculously out of context.

 

[moneywoes]

All talk, no action

 

[808s & Villainy]

Bill Gates saying this knowing that he benefits from the whole tax claims off donations.

Also, wasn't he the one who said rich people get taxed too much?

Absolute hypocrisy.

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You guys have to start posting sources instead of throwing what sounds like nonsense around

Could you please point out exactly where he's arguing that he doesn't want to pay more much more than 20 billion?
I've linked the interview with the exact time stamp where he says that it's fine when he has to pay 20 billion to make it easier for you:

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In that same interview at 2:24 he responds to his thoughts on the Warren tax and basically thinks capital income (gains on share prices) should be treated the same as labor income (normal taxes), which obviously would primarily target rich people as their wealth is mostly tied in stock, and he talks about addressing loopholes that create tax havens

All talk, no action

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Gates: *Pays drastically more in taxes*
Government: *Writes refund check*
What is "action" in your opinion? Publicly advocating for the rich paying more taxes and voting for candidates who support that are the two big things they can do

 

[SatelliteOfLove]

That's the ticket; stepping away from the Davos Clique is the right thing for all billionaires who don't want to be oligarchs.

For the ones who do wanna be, get ready...

 

[Tuorom]

Tax rates are fine. The problem is hiding money so it can't be taxed. That's what needs to be addressed.

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Yea I think them actually paying would be a great start

 

[lush]

I think any sensible person would agree billionaires should be completely eradicated. Fitting this is the conversation we're having to start the 20s.

 

[Deleted member 50540]

Come on man, it's incredibly obvious in the video he's joking about the 100 billion thing. Without even the disclaimer that he's joking. He's also veeeery heavily implying he'd vote for everyone else over Trump by saying he wants to vote for someone who is the least bit professional.

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Who he votes for is whatever, but I do find it disconcerting that he does mention in that article that he thinks Warren is too hard on billionaires when his joke scenario isn't anywhere near to where the truth would be under that plan. And then even if he were to pay 100 billion he would still be a multi-billionaire.

but at the end of the day they're still old rich white people who spend all their time around old rich white people. Even when they have the right idea, it is still through the lens of money.

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This is I guess the essence at what I am trying to get at. Gates may be joking, but how much of that joke/attitude comes from serious conversations that rich people are having. I do not trust him nor any other billionaire to, at the end of the day, not look out for number one, especially when his philanthropy is profitable to and because of his good name

 

[Deleted member 6230]

Why does this forum get so sensitive when people are remotely critical of this man? Calm down.

Good on him I guess for saying a good thing

 

[Gyro Zeppeli]

No. Fuck him. I don't believe a single word that comes out of a billionaire's mouth. They should absolutely be taxed a fuck ton more, but it's a fight that non-billionaires must take on. Hopefully Bernie, Warren, and AOC can finish the fight.