General Discussion

Pachamama

(17,536 posts)

76. +100000

Thu Feb 14, 2019, 11:23 AM

Feb 2019

Amazing isn't it? So many people are quick to post insults and they didn't even read the full article and see that Bill Gates, who together with Warren Buffett have combined their fortune in a foundation to do good and even limit how much their children inherit, is actually supporting the Green Deal from Ocasio, but are advocating that it in fact needs to go a step further similar to what Warren is proposing and tax actual wealth and the way the weathy make their money.

I have a friend for example whose husband gets over $50 million annually - essentially tax free in distributions. He doesn't get an income from his "units" (aka shares) yet he takes distributions and even loans against the value of the units and he has many offshore accounts. He pays taxes through the 10-K filings, but its a joke in terms of a percentage of the income and what his net worth is. It should be criminal, but it isn't or its in a "grey" area.....

Bill Gates is spot on....sad that people just want to post attacks and don't understand what he is advocating is correct....

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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