Lacy O’ Toole | CNBC Eye roll. WE NEED TO LOWER TAXES! FAIR & FLAT TAX NOW!
Posted on 05/02/2016 8:29:17 AM PDT by DCBryan1
Bill Gates said investment gains should be taxed at the same level as ordinary income — a bold call for one of the world's largest investors.
Speaking Monday on CNBC's "Squawk Box," Gates said that he's "pleased" that there is more discussion around changing the tax code. When asked what he would alter, Gates sided with his pal Warren Buffett and said he supports raising the earned income tax credit.
But Gates also said he would raise the tax rate for capital gains — the largest source of income for the richest Americans. The current top tax rate on capital gains is 20 percent (with the highest earners paying an additional 3.8 percent surtax). The top tax rate on ordinary income is 39.6 percent.
"There's always been the question of whether taxes on capital should be a lot lower than taxes on labor," Gates said. "I tend to think they should be pretty much the same, and that that's an opportunity to be a bit more progressive."
(Excerpt) Read more at cnbc.com ...
Lacy O’ Toole | CNBC Eye roll. WE NEED TO LOWER TAXES! FAIR & FLAT TAX NOW!
Who elected this jack@$$ to anything?
Tax rate transfer to Gates Foundation of Microsoft is ZERO
Is he planning to sell off then and take his gains so they can be taxed?
When you are this rich it doesn’t matter how stupid you are!
I agree with you about the flat tax. But just think of all the money that would be freed up by no Capital gains taxes. People who are locked into investments or real estate because of their fear of the hit from taxes would be free to get that money moving back into the economy!!! Bill Gates has no concept of a free market economy! He made his fortune way too fast!!!
I’ve got a better idea; let’s just confiscate all of the assets of all billionaires who advocate for higher taxes of any kind or the reinstatement of repealed taxes (including estate taxes).
Let’s start with Bill Gates.
Time to give Bill the “Mr. Bill” treatment....”Oh Noooooo!”
Oh yeah, the scum made his billions (with really sh1tty products) - now he wants to prevent others.
What is your position on B-1 Visa's?
I think you told Congress Infinite
What we need is an easy way for these wealthy people to pay additional taxes themselves.
Oh wait, there is one...
Regards,
If he wants to pay more, he can voluntarily pay more in taxes.
Speaking Monday on CNBC’s “Squawk Box,” Gates said that he’s “pleased” that there is more discussion around changing the tax code. When asked what he would alter, Gates sided with his pal Warren Buffett and said he supports raising the earned income tax credit.
...
What this really means is that Bill and his buddy Warren already have their money sheltered from any possible tax increase.
Who elected this jack@$$ to anything?
...
If it weren’t for his mom’s connections he wouldn’t be where he his today, so to answer your question, I’ll say his mom.
Go back to making buggy operating systems and shut the F up about taxes.
Taking away capital and reducing saving and investment from the most productive citizens so the government can consume more. Yea, that's the ticket to more economic progress and more prosperity. Not
He and Trump seem to agree on raising taxes on the wealthy though.
So, I wonder if capital gains increases are part of Trumps plans too?
Makes you wonder.
Jedi.
Is Mr. Gates an elected official? He thinks his wealth gives him more power than then average citizen? I appreciate what the Gates have done for many in our nation and around the world...but he should stay out of politics unless, he wants to run for office.
Bill Gates: “I’ve got mine.”
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