Bill Gates: Taxing the rich is fine, but '........' politicians like AOC are missing the point by

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34. He is mostly right.

His point was income versus carried interest type income and stock or Trusts transfers as income. The tax rate on those is very low if they are held for a certain time period. The tax rate on income is immediate.

What it all means is that super rich people skate free while the business person that is building a business and gets to $10 million+ per year in gross income gets hit hard by AOC's plan, that makes growing the business more impossible because the resources to grow the business and pay bonuses to employees come from the gross margin above 50%. If most of the residuals over 50% goes to taxes, the business ceases to grow and bonuses to all employees stop.

I really, really wish that people that are doing backflips over 70% taxation of income over $10 million would try running a business where they were responsible for paying all the bills and sustaining the business, that really changes a person's perspective.

I would prefer seeing stock transfers taxed and passthru income to Trusts taxed at a higher rate than current. A lot of tax revenue would be shaken out from that. As far as operating enterprises are concerned, I believe raising the higher tax threshold to kick in in the $50-$100 gross income range then have it gradually increase for more gross income would provide a lot of new tax revenue, but would not retard desirable business growth.