Bill Gates (Joins Buffet): I don't pay enough tax
25 January 2012 Last updated at 04:56 ET
Microsoft co-founder Bill Gates says he does not think he pays enough tax, and says wealthy Americans should contribute more in order to solve the deficit problem.
Speaking on BBC World, Mr Gates said taxing the rich, was "just justice".
http://www.bbc.co.uk/news/world-us-canada-16714480
.................
Billionaire Bill Gates Calls For Increasing Taxes On The Rich: Thats Just Justice
GATES: Well the United States has a huge budget deficit, so taxes are going to have to go up. And I certainly agree that they should go up more on the rich than everyone else. Thats just justice.
BBC HOST: Is that a message you think that works with other people as wealthy as yourself, or is it just a small circle of friends yourself, Warren Buffet, a few others.
GATES: Well, I hope we can solve that deficit problem with a sense of shared sacrifice where everybody would feel like theyre doing their part. And right now, I dont feel like people like myself are paying as much as we should.
http://thinkprogress.org/economy/2012/01/25/411283/bill-gates-taxes-justice/
OhioChick
(23,218 posts)TheWraith
(24,331 posts)Gates is deeply interweaved into the technology industry, and the tech industry is primarily Democratic in alliances.
ChromeFoundry
(3,270 posts)says who? Is the Democratic Party also for mass offshoring of tech jobs?
Tech Companies are in alliance with whomever will yield them larger profits. Period.
TheWraith
(24,331 posts)Tech companies are overwhelmingly allied with Democratic politicians, and the large majority of contributions from tech workers and tech affiliated PACs go to Democrats.
usrname
(398 posts)Are generally college educated. Highly educated people are generally more liberal than lowly educated people. Anecdotally, from my FB friends, there's a very high correlation between left-vs-right and education level.
ChromeFoundry
(3,270 posts)Basing political affiliations on polls from the last presidential election does not seem to align with your uncited claims.
[strong]Tech Workers Favor McCain, Obama[/strong]
"Twenty-nine percent of survey respondents said they supported Obama"
"Twenty-nine percent of survey respondents said they supported McCain"
"13 percent said they supported Senator Hillary Clinton"
"11 percent said they supported Mike Huckabee"
"9 percent of respondents said they supported Ron Paul"
"Beyond the support for McCain and Obama, IT workers tend to describe themselves as more conservative than the general U.S. population, but they feel less affiliation with one of the two major political parties, according to the survey. Thirty-nine percent of respondents called themselves conservative, 36 percent called themselves moderate and 24 percent called themselves liberal.
But 40 percent of respondents called themselves "other" when the main choices were Democrat or Republican. Thirty-five percent said they were Republican, and 26 percent said they were Democrats."
Source: http://www.pcworld.com/article/143730/tech_workers_favor_mccain_obama.html
Note: I don't believe that this poll was conducted under rigid scientific methodologies to produce accurate results. But neither is posting your own generalized, non-scientific, claims. Basing these numbers off of political contribution amounts is a bogus metric as well because it could be argued that the more someone gives to a political candidate actually shows a lower score of intellect.
As for taking the political pulse of people you "friended" on Facebook. I would think that most people generally converse with people that they have like-minded interests, so that factoid isn't very meaningful.
grantcart
(53,061 posts)PavePusher
(15,374 posts)I won't hold my breath.
tridim
(45,358 posts)There is a myth around Gates. The reality is that he gives back, more than anyone on Earth.
Now he wants to help solve the deficit problem and that is somehow bad IYO?
PavePusher
(15,374 posts)They would not send it back. Anybody can send any amount of money they want to the IRS at any time. There is a mechanism in place for this.
My point is that all the people calling for higher taxes... have not taken advantage of this process, at the very least to prove their intent. In other words, "put their money where their mouth is". I don't think his statement is a bad idea at all. They can, in fact, start at any time.
And yes, I know the Gates' give massive amounts to worthy causes. Totally beside the point of discussion here.
CJCRANE
(18,184 posts)it works better if everyone chips in. Otherwise it's a drop in the ocean.
PavePusher
(15,374 posts)1. Every little bit helps.
2. The Moral Hysteria being whipped up would be of much greater substance if these folks were contributing voluntarily. But they're not. Hmmmm, I wonder why that is....
Hugabear
(10,340 posts)Asking the rich to pay their fair share is now "moral hysteria"?
Sometimes the things I see here on DU absolutely amaze me.
PavePusher
(15,374 posts)muriel_volestrangler
(101,262 posts)Why do you think agreeing with Gates that the tax rates for the rich should go up is 'moral hysteria'? It's just a policy position - a mainstream, liberal policy. I am amazed at seeing anyone on DU call it 'hysteria'.
colorado_ufo
(5,730 posts)the 1% - especially people like "not one dollar more" Romney.
Response to CJCRANE (Reply #18)
PavePusher This message was self-deleted by its author.
Sera_Bellum
(140 posts)valerief
(53,235 posts)difference.
Poor people chipping in wouldn't make a dent.
Kellerfeller
(397 posts)remember, 100 million people paying $50 ($4/month) is still $5 Billion.
valerief
(53,235 posts)100K * 100K = 10,000,000,000. That's ten billion and 100K is pocket change to the richies.
Kellerfeller
(397 posts)As someone said earlier, every bit helps.
valerief
(53,235 posts)Imagine multiplying that by ten or twenty or a hundred when you average it out.
Kellerfeller
(397 posts)There are about 1.4 million people in the top 1%, so that is a reasonable point.
Hugabear
(10,340 posts)The whole reason people like Gates and Buffett are speaking up is to bring attention to the issue. It's one thing for politicians in Washington to say the rich need to pay their fair share. We've got plenty of right-wing gasbags going around saying that the rich are paying too much, that we should cut their taxes even MORE.
So what's wrong when the ultra-wealthy speak out in support of tax reform that places more of the burden where it should rightfully be? Is it wrong when someone like Buffett points out the inequality of him having a lower tax rate than his secretary? Sure, he could just quietly write a check to the IRS for what he thinks should be his fair share. But by speaking out, they cut into the right-wing argument that the ultra-rich are paying too much in taxes.
PavePusher
(15,374 posts)I never said it was wrong of them to speak out on ANY issue. I stated that their words would carry more weight if they were to pre-emptively practice what they are preaching.
provis99
(13,062 posts)PavePusher
(15,374 posts)is a "republican talking point(s)"?
You're going to have to explain that stretch.
provis99
(13,062 posts)and this was all over the news two weeks ago. So don't claim that you didn't get the idea from Republicans.
http://swampland.time.com/2012/01/11/warren-buffett-to-mitch-mcconnell-put-up-or-shut-up/?iid=tsmodule
PavePusher
(15,374 posts)And agreeing with a Republican on a single issue hardly makes me one. Please use more caution in your conflations.
pnwmom
(108,952 posts)We don't need just Bill Gates's check, we need them from all the 1% ers.
It's the Rethug's argument that these checks should be optional, not ours. If a handful of wealthy people wrote a few checks it would accomplish little other than to convince more Rethugs that this is all that needs to be done.
think
(11,641 posts)Mopar151
(9,974 posts)As in, not paying your fair share of taxes adds directly to the defecit, which costs more in the long run.
ChromeFoundry
(3,270 posts)Now if we could get the banks, oil companies, health insurance, pharmaceutical and other companies receiving windfall profits... yeah, right.. never mind.
Sera_Bellum
(140 posts)Mr. Gates from paying more. He would stand taller to me if he would just pay more and then release the documents for proof.
Liberal Veteran
(22,239 posts)If he just sent a bunch of money to IRS, it would show as an overpayment and they would refund it.
PavePusher
(15,374 posts)when Stephen King said much the same thing.
https://www.google.com/#hl=en&sugexp=pfwl&tok=NL94E2jWcV8cZJGJxHfLNg&cp=27&gs_id=4&xhr=t&q=Gifts+to+the+United+States+government&pf=p&sclient=psy-ab&site=&source=hp&pbx=1&oq=Gifts+to+the+United+States+&aq=0&aqi=g3g-v1&aql=&gs_sm=&gs_upl=&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=c289d355965876a1&biw=1280&bih=869
http://nymag.com/daily/intel/2011/03/stephen_king_rips_the_tea_part.html
https://www.google.com/#sclient=psy-ab&hl=en&source=hp&q=Stephen+King%2C+taxes%2C+democratic+underground&pbx=1&oq=Stephen+King%2C+taxes%2C+democratic+underground&aq=f&aqi=&aql=&gs_sm=e&gs_upl=7549l13835l0l14179l24l22l0l0l0l0l344l5863l0.3.12.7l22l0&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=c289d355965876a1&biw=1280&bih=869
The D.U. links don't seem to work any more (DU2).
Sera_Bellum
(140 posts)He probably uses all the tax loopholes similar to Romney. A start would be not using them and then he could pay more. His words are noble.
CJCRANE
(18,184 posts)That's why legislation is needed.
HuckleB
(35,773 posts)AlbertCat
(17,505 posts)Perhaps. Besides, he doesn't know that.
I like that the meme of "greed is good" that the Repugs spewed forth in the form of Reagan is being challenged. That not only conspicuous consumption is looking tacky these days but that just hoarding wealth is becoming a non-virtue.
Now if we could just get "Tax the churches"... or at least "Tax the busineses owned by the churches" to catch on, then we all might could get a tax break. (Then you can give your money to whichever church you want if you think they need it)
HuckleB
(35,773 posts)But until I see leadership from these gazillionaires, I'll call their speechifying for what it is: Pointless.
PavePusher
(15,374 posts)Ron Obvious
(6,261 posts)Last edited Thu Jan 26, 2012, 03:33 PM - Edit history (1)
A statement like this is fully in keeping with Bill Gates as well as his father who lobbied for a state income tax in Washington State for those earning more than 250K pa.
Why Bill Gates is detested in left-wing circles, and a corporate profiteering sociopath like Steve Jobs, who never contributed a penny to society except under duress, is loved speaks volumes about the age in which we live.
In the interest of full disclosure: former Microsoft employee here.
grantcart
(53,061 posts)Spoonman
(1,761 posts)If the gubmint (IRS) confiscated EVERY penny (net worth) of top 400 richest people in the country (I'm not talking about just taxing what they will make each year, I'm saying take every penny the have right now) it would only total roughly 1.5 trillion dollars.
We are 15 trillion dollars in debt.
$2 trillion is earned per year by those with incomes greater than $100,000 per year
Our budget deficit is 1.3 trillion for 2012
An average tax rate on all incomes $100,000 and up of 65% we would generate 1.3 trillion dollars
$150K is by no means rich, it just means you have two incomes.
You say BS?
Everyone knows teachers are underpaid, but we never think of them as rich do we?
A family with two school teachers earns $110,700 per year based on the 2010 national average of $55,350.
If you were screaming "hell yes tax those over $100k", then you must really dislike the salaries teachers are paid!
Only an idiot would believe that the only solution is higher taxes.
49 percent of Americans pay no federal income taxes at all.
Yes, we have to raise taxes (ON EVERYONE!!!!!!)
AND - We have to cut spending TOO!
PavePusher
(15,374 posts)The cat-fight starts over.... where to cut.
CJCRANE
(18,184 posts)ETA: Plus there are other proposals where the higher rate could be for those earning over $1M, so the whole talking point about teachers etc. is misleading.
JJ
(3,196 posts)that 49% are so underpaid, not that the IRS doesn't take some of what little they have.
Spoonman
(1,761 posts)"Nearly 22% of those making between $50,000 and $75,000 end up with no federal income tax liability or negative liability as do 9% of households with incomes between $75,000 and $100,000."
By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: October 3, 2009: 2:58 PM ET
Kellerfeller
(397 posts)slay
(7,670 posts)and it's true! the rich need to be paying much, MUCH more in taxes.
deacon
(5,967 posts)Glassunion
(10,201 posts)So far Bill & Melinda have personally donated $28 Billion.
Some names on the list may surprise some of us.
PavePusher
(15,374 posts)as there is no statement of personal wealth, personal earnings, charitable donations and taxes paid.
Glassunion
(10,201 posts)The commitment if I understand is simply to contribute at least 1/2 their wealth in their lifetime or at death.
I did read somewhere that Mark Zuckerberg did just contribute 500 million, but I have no idea what kind of percentage that is.
24601
(3,955 posts)give billions to your foundation and still owe a shitload of tax. Problem solved.
Edited because the original post hid one of the words
DaveJ
(5,023 posts)I just don't get it. I had to look up "Why do people hate Bill Gates" and most every reason is some characteristic that also applies to me... nerdiness, social awkwardness, lame sense of humor.... Man, people really are different. I'm nothing like Steve Jobs (was) who estranged his first daughter and belittled everyone, yet people overlook that think he's some kind of superhero.
Anyway, Thank you Mr. Gates.
AdHocSolver
(2,561 posts)to low wage countries, and work to overhaul the tax code to remove corporate tax loopholes that allow corporations to make billions in profits and pay little or no taxes.
Unemployed Americans don't pay income taxes, and corporations avoid taxes by offshoring jobs.
These two actions alone would increase government revenue by a far greater amount than merely increasing taxes on the rich.
awoke_in_2003
(34,582 posts)but someone finally put the hammer on the nail head.