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lostnfound

(17,344 posts)

66. He is right, and he has been misquoted

Thu Feb 14, 2019, 08:17 AM

Feb 2019

Based on headline I expected to see that he was bashing on AOC, but that’s just slanted CNBC editing. Look at this quote:

“Now, you finally have some politicians who are so extreme that I'd say, 'No, that's even beyond,'" Gates said, an apparent reference to Ocasio-Cortez.

“An apparent reference to..” wtf! Where in journalism school do you get to put words in the mouths of your subject??

Clearly he favors a Warren approach, not just a focus on tax brackets. He’s right — raising the bracket on ordinary income does nothing to attack the mountain of inequity after decades of 15% capital gains rates and tax shelters.

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Bill Gates: Taxing the rich is fine, but '........' politicians like AOC are missing the point by [View all] applegrove Feb 2019 OP

Hey Bill, if we're talking about you and your pals making a fair tax contribution ... marble falls Feb 2019 #1

No they invest in hedge funds. You need something other than income tax too. applegrove Feb 2019 #2

Dividends need to be treated as income and taxed like it. We don't need their charity ... marble falls Feb 2019 #14

Dividends are. Gates is talking about other ways the wealthy grow wealth applegrove Feb 2019 #18

Some dividends are taxed at a lower rate, DeminPennswoods Feb 2019 #37

Right. Capital gains tax. Not just income. sharedvalues Feb 2019 #51

Actually he is right exboyfil Feb 2019 #5

He is right, and he has been misquoted lostnfound Feb 2019 #66

Yes. The Warren approach encourages national wealth Hortensis Feb 2019 #74

Nah, he's saying don't limit it to only income. nt greyl Feb 2019 #6

It doesn't appear that you read beyond the headline. pnwmom Feb 2019 #8

+100000 Pachamama Feb 2019 #76

He's not wrong... Wounded Bear Feb 2019 #3

Apparently Bill listens to Hannity and Limbaugh. lpbk2713 Feb 2019 #4

That's funny. What he's supporting sounds a lot more like Elizabeth Warren than Hannity or Limbaugh. pnwmom Feb 2019 #11

Yes I was actually. lpbk2713 Feb 2019 #12

But Gates didn't make the assertion that "anything the left wants to do that might change pnwmom Feb 2019 #20

That isn't all he said. Caliman73 Feb 2019 #48

No, you should read what he said. He's not saying don't tax lostnfound Feb 2019 #64

Gates is correct. IIRC Elon Musk pays himself $1 year salary as CEO of Tesla riverine Feb 2019 #7

Gee. How ever does he manage? He's paying lower than income tax rates on his securities ... marble falls Feb 2019 #16

Oops I was wrong. Musk makes $37,000 year at Tesla riverine Feb 2019 #19

He would only owe taxes on his shares of stock.. A HERETIC I AM Feb 2019 #29

How does he manage? Blue_true Feb 2019 #40

There has to be a way to increase the capital gains tax without overtaxing people saving for Calista241 Feb 2019 #9

Are you worried about Bill and Melinda's retirement??? marble falls Feb 2019 #17

Of course there's a way TexasBushwhacker Feb 2019 #25

Those are all good ideas. Nt lostnfound Feb 2019 #68

Tax realized Capital Gains, not paper Capital Gains. Blue_true Feb 2019 #43

If property taxes worked that way, we'd have no schools and lostnfound Feb 2019 #67

Yes, you are right about property taxes. Blue_true Feb 2019 #78

"In a different class".. an asset that's NEEDED, not just one to produce wealth lostnfound Feb 2019 #81

I kind of like the sound of forty-five percent capital gains tax pecosbob Feb 2019 #10

Capital gains should be a progressive tax. roamer65 Feb 2019 #22

Yeah, of course...I know it's tiered now but isn't it only broken up into short term vs. long term? pecosbob Feb 2019 #24

Short term - less than 1 year - is taxed like regular income TexasBushwhacker Feb 2019 #26

Extreme my ass malaise Feb 2019 #13

What was cut off in the title are the words: "by focusing on income" applegrove Feb 2019 #15

He did not SAY AOC was extreme. BAD journalism at CNBC lostnfound Feb 2019 #69

Gates is actually calling for wealthy to pay more taxes JI7 Feb 2019 #21

Yes. He's supporting Liz Warrens plan. sharedvalues Feb 2019 #53

Guys. Don't focus on the headline. PragmaticLiberal Feb 2019 #23

wow, he's actually agreeing with us, for the most part. unblock Feb 2019 #27

I thought dividends were taxed as income. Then again I've never had a dividend. applegrove Feb 2019 #28

They are A HERETIC I AM Feb 2019 #30

qualified dividends are taxed at a much lower rate. unblock Feb 2019 #31

Thanks. applegrove Feb 2019 #32

If I am correct, neither Musk nor Bezos have dividend income from their holdings GeoWilliam750 Feb 2019 #39

not from amazon or tesla. unblock Feb 2019 #42

Gates and Buffet, both billionaires, have long said... brush Feb 2019 #33

He is mostly right. Blue_true Feb 2019 #34

Isn't AOC talking about personal income tho? Roland99 Feb 2019 #36

Sole proprietors get taxed on the business income. Blue_true Feb 2019 #41

not a tax expert, but surely you can deduct employee compensation like bonuses. unblock Feb 2019 #46

Equipment, let's discuss that. Blue_true Feb 2019 #52

If she were, not nearly good enough Hortensis Feb 2019 #75

He's EXACTLY right!! He even sounded like Piketty Roland99 Feb 2019 #35

Social security is means-tested and taxed DeminPennswoods Feb 2019 #38

Well done Gates. WeekiWater Feb 2019 #44

Once you get to the second paragraph you get to understand that Gates isn't being a dick rufus dog Feb 2019 #45

I thought about taking out the word 'extreme' from the title but he said it applegrove Feb 2019 #47

You are correct in leaving it in rufus dog Feb 2019 #54

I took it out in the end. People are reacting to the word and not the content applegrove Feb 2019 #55

Sad... rufus dog Feb 2019 #60

What's sad is that Bill Gates has better ideas for taxing the wealthy than AOC dansolo Feb 2019 #62

Gates needs to listen to AOC here fescuerescue Feb 2019 #49

Read the article. He is talking about how most wealthmaking the rich do does not come as income. applegrove Feb 2019 #50

nope, Gates is Right and he is pretty much saying what Elizabeth Warren is saying JI7 Feb 2019 #57

So if AOC's plan doesn't go far enough, Bill is trying to help us here I guess, why does he call jalan48 Feb 2019 #56

I took out the 'extreme' bit because it was messing with people's viewing applegrove Feb 2019 #58

OK-I still don't get what he thinks AOC is extreme about. jalan48 Feb 2019 #59

I don't know. I would only be guessing. applegrove Feb 2019 #61

says the billionaire. he did not mention scandanavia but went straight to france. pansypoo53219 Feb 2019 #63

Imma leave this here for reference Hassin Bin Sober Feb 2019 #65

we should do all of those things scarytomcat Feb 2019 #70

Econ 101. But as a political tool, calling for taxing wealth is already taken Hortensis Feb 2019 #71

Listening to the actual Gates interviews is well worth the time lostnfound Feb 2019 #72

Here's a dirty little secret Goodheart Feb 2019 #73

Both Bill and Melinda were on the Colbert Show a couple of nites ago. LiberalFighter Feb 2019 #77

If you're going to collect taxes, doesn't it make sense to go where the money is? Vinca Feb 2019 #79

Away to do that is a vat tax. No vat on food or necessities. Money back applegrove Feb 2019 #80