Bill Gates Goes After Warren on Wealth Tax

Discussion in 'Politics' started by Gatoravatara, Nov 7, 2019.

  1. Gatoravatara

    Gatoravatara Protaganista

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    Wall Street has not been shy in expressing reservations over Sen. Elizabeth Warren’s (D-MA) presidential candidacy — given her desire to install a wealth tax. Now, you can add one of the world’s richest people to the list of those who are less than thrilled by the prospect of a Warren presidency.

    Speaking at a forum in New York with New York Times writer Andrew Ross Sorkin, Microsoft founder Bill Gates came off as far from enthusiastic about Warren 2020. Speaking about the wealth tax, Gates said there’s a limit to what he would be willing to pay.

    “If I had to pay $20 billion, it’s fine,” Gates said. “But when you say I should pay $100 billion, then I’m starting to do a little math about what I have left over.”

    Who is Bill Gates Supporting for President: Trump or Warren?
     
  2. URGatorBait

    URGatorBait #TeamDubs
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    Bill Gates is a smart dude
     
  3. Gatoravatara

    Gatoravatara Protaganista

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    Nobody will disagree with that statement. His math seems a bit off though. A 5% tax on his $110B wealth would be $5.5B a year. He would still have $104B left. And that's of he made no money that year. If he got a 10% return he would still have more money than the prior year. He will never have to change his lifestyle. I dont see this as punitive. Bernie and AOC are more into the punative thing. They dont think billionaires should exist.
     
  4. Durty South Swamp

    Durty South Swamp doodley doodley doo!
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    most of us feel the same about your dumb ass.
     
    • Gatoravatara

      Gatoravatara Protaganista

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      Here is another billionaire getting chocked up over Warren's tax plan. Poor guy. Maybe we should all chip in to GoFundMe page to help the brotha out.

       
      • URGatorBait

        URGatorBait #TeamDubs
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        She'll come after you too...you just don't recognize it yet
         
        • diehardg8r

          diehardg8r Junior Member

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          She gonna pay down the deficit with his money?
           
        • Gatoravatara

          Gatoravatara Protaganista

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          She says she wants to help the middle class. So why would she come after me?
           
          • sminings

            sminings Well-Known Member

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            I would wager to beat that Gates has donated more money that Warren ever made in her life. This is pure theft
             
            • diehardg8r

              diehardg8r Junior Member

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              Yeah, that's certainly a position no politician has ever taken. Did she also say she would protect social security from the evil repubs?

              Trump said the same thing......and did it.
               
            • Gator By Marriage

              Gator By Marriage A convert to Gatorism
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              The "Wealth Tax" would be in addition to, not instead of, capital gains and income taxes. In his bracket, that would only mean he made money in the good years. Let's say it's not a good year; sure he wouldn't have crushing capital gains/income taxes, but he'd still have that "Wealth Tax." A few down years in a row and that large fortune would be a small fortune. And what do you suppose happens when those large fortunes don't exist anymore (after all there aren't that many Bill Gateses out there), but the entitlements do? If you can't figure that out on your own, do a little reading about the history of the US Income Tax. It's quite entertaining.
               
              • diehardg8r

                diehardg8r Junior Member

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                And there really is no constitutional authority for a president to talk about raising taxes on certain individuals in the first place. I know that pesky constitution shouldn't get in the way of a vast left wing give away agenda.
                 
              • divits

                divits A Muffin of the Studly Variety
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                Who are you to decide what's punitive? By it's very nature it's punitive.

                "We want your money because you have some and you obviously didn't earn or deserve it."

                It's all about envy. Envious underachievers wanting to punish people for achieving something that could only dream about. Instead of looking at the wealthy and successful and saying, "I want to work hard and get to that point.", the socialists all say, "He obviously got his money nefariously and it's my RIGHT to demand he give it to who I determine deserves it."

                Socialism has failed again and again and again because it is not congruent with human nature and common sense. The 80/20 rule has existed through nature and history since time began. Some idiot social engineering by a bunch of losers like Warren and Sanders will never change that.
                 
                • Gatoravatara

                  Gatoravatara Protaganista

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                  That doesn't mean much tp his lifestyle though. Not only are donations tax deductible, but Gates will never have to change his lifestyle because of his donations.
                  This wont effect his lifestyle. Or his great grankids'. I have no issues with Bill Gates. He was an amazing businessman who deserves what he has. But he just needz to pay an 8% tax. Its no big deal. I mean look how much money the Koch brothers paid for foundations and media outlets to convince Americans that they pay too much taxes. And didnt they say they were going to spend $1B to buy politicians and run commercial during the last cycle? I mean, they are practically broke because of these oppressive taxes.
                   
                • Gator By Marriage

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                  You missed the point.
                   
                  • URGatorBait

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                    You aren't really middle class, and she's not really telling the whole story :dunno:
                     
                    • URGatorBait

                      URGatorBait #TeamDubs
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                      That's nothing new
                       
                      • Gatoravatara

                        Gatoravatara Protaganista

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                        If taxes are punative by nature, then all taxes are punitive and nobody should pay any taxes. I find it really strange that anytime somebody proposes doing anything that will help the middle class, a) how will you pay for it, b) it cant be done.

                        We just gave a $28B welfare check to rich, corporate farmers like ADM. Nobody asked how we are gonna pay for that, and we got that done quickly

                        Nobody asked where we were gonna get the money to pay for the $2T tax cut that mainly went for corporate stock buybacks and not the moddle class?

                        Nobody ever ask how we will pay for the military or if we can afford it?

                        But the middle class? We need to know how its going to be paid in full. And we probably can't do it anyways because philosophically, Americans think that that the middle class should suffer and be stressed out all the time. I don't know why that is. Its not even productive.
                         
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                        • Gatoravatara

                          Gatoravatara Protaganista

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                          I consider myself middle class and feel that way.
                           
                        • Gator By Marriage

                          Gator By Marriage A convert to Gatorism
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                          One of your best lines yet. Pay for a tax cut.
                          :rotfl:
                           

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