Posted on 11/06/2019 6:44:14 PM PST by yesthatjallen
Warren says she'd talk to Bill Gates about what he'd pay under wealth tax: 'I promise it's not $100 billion'
Democratic presidential candidate Sen. Elizabeth Warren (Mass.) responded to former Microsoft CEO Bill Gates’ reported concerns over what he would have to pay under the senator’s proposed tax on the wealthy.
“I'm always happy to meet with people, even if we have different views. @BillGates, if we get the chance, I'd love to explain exactly how much you'd pay under my wealth tax. (I promise it's not $100 billion.)” Warren tweeted Wednesday.
Gates spoke with The New York Times writer Andrew Ross Sorkin at the outlet’s DealBook conference Wednesday.
Addressing one aspect of Warren’s tax proposals for the wealthy – a 6 percent tax on assets above $1 billion, according to the Washington Post – Gates responded that there is a limit on what he would be willing to pay, although he said does support a progressive tax system.
“I’ve paid over $10 billion in taxes. I’ve paid more than anyone in taxes. If I had to pay $20 billion, it’s fine,” Gates said. “But when you say I should pay $100 billion, okay then I’m starting to do a little math about what I have left over. I’m just kidding”
He also warned that candidates who support taxing “too much” risk alienating “innovative” companies or entrepreneurs in the U.S.
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(Excerpt) Read more at thehill.com ...
Not a call to take.
Low-grade commie hack.
She wants it all and you can keep what ever fits in a Thimble
“All your wampum is belong to us.”
Yeah, because everyone knows our federal tax policies should be based on the opinion of one mega billionaire.
Leftist minds, where mush finds a home...
According to the article, Bill Gates is worth around $107 billion.
Under Warren’s plan he would pay a 2021 wealth tax of $107 billion x 0.06 = $6.4 billion. This would of course be on top of any other other taxes he might be paying.
Did you get that, Bill? Please don’t complain. Just write that check for $6.4 billion. Sen. Warren will spend your money wisely. That’s one thing I’m sure of.
Warren is barking up the wrong tree if she thinks Gates is her daddy-goldbucks.
Gates gave most of his wealth away back in 2000. $30Billion to his foundation and hundreds of millions to various foundations, charities, disease-eradication and scholarship programs.
https://en.wikipedia.org/wiki/Bill_%26_Melinda_Gates_Foundation
How big of her.
Bill Gates gets to negotiate his tax rate directly with a Presidential candidate, but the rest of us don’t.
Warren: If you have to ask how much money then it means you can’t afford it.
I am willing to leave you and your wife a little money set aside to live on. The rest belongs to the Workers’ Anti-American Initiative Revolution. And my campaign reimbursement slush fund. Handled in my bank account to keep it simple and transparent.
The problem as I see it is that for many of the rich, wealth is tied up in stocks, bonds, or “articles” like artworks. For Bill gates to pay his taxes for Warren, he would probably have to sell Microsoft stock. He them pays the Capital gains taxes, along with his regular taxes, then writes the $6.4 billion dollar check. Question is, who buys his stock? Maybe the first year investors, but then they owe taxes on what they just bought the next year. For Bill Gates, it would appear year 2 under her plan will be water, lather, rinse, and repeat. Year 3 no one is buying his stock because they have to pay taxes on the newly acquired wealth. Does the government now step in to offer him what the government decides is a fair price for his stock? 4-5 years later, the “people”(government) will be owning everything. At last!!!!! TRUE SOCIALISM!!
What a P O S idea. But we can’t expect much more from a 1/258th Indian can we? All that white blood just corrupted the native intelligence.
Well thought out synopsis.
People with billions can transfer rheir ewalth anywhere and get a cadre of lawyers to support said transfer.
“Paying” a few scheckels for virtue signalling is all fun and games.
Remember after your worth is the B category money is just how you keep score.
I am not there yet but I know how the uber-rich operate. Money is meaningless except for how it propels you.
Most Americans scrabbling for a few measly thousands a year have no idea how these people operate.
80%
That’s 6.4 billion a year in wealth tax—if his wealth remains constant.
The wealth tax ain’t a one time thing.
My dad had a cousin in Norway. Very wealthy guy with a business and properties and toys.
He paid more in taxes than he earned in a year.
“Tax the rich, feed the poor, ‘till the rich are rich no more.”
I’ve always wondered if that old song had that line in there as sarcasm? Probably not - idiot hippies.
Wealthy people have it tied up in hard assets of some kind. Real estate, planes, yachts, artwork, jewelry, investments or other non-liquid assets. Or they will hide it offshore in more forgiving depositories.
But they will not lay down and play dead while the government keeps tapping their wealth.
Warren's wealth tax is not sustainable. Once you take all the golden eggs, that's it. It's gone.
It amounts to legal theft by the government.
Fake Indian.
Liar.
Signed the TX bar register as native American.
Sad how she has gotten this far.
My thoughts are the extreme. I understand they will try to hide it all, land in other countries, bonds in other countries, gold held here and there. But this is what she wants to do. If she could get other governments to help her, she would do something like this. Or Bernie would.
This is the plan. Most of us realize this will end up taking money only from those who do work, make between $100-250K per year. They will pay this in one form or another.
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