Bill Gates slams Ocasio-Cortez, says her tax policy is 'missing the picture'

Bill Gates slams Ocasio-Cortez, says her tax policy is '''missing the picture''' | Fox News

Microsoft co-founder Bill Gates, who has a net worth approaching $100 billion, has slammed tax policies like the one put forth by Alexandria Ocasio-Cortez, saying they miss the larger picture and could create tax dodging.


Speaking on a podcast at tech website The Verge, Gates noted that while tax rates can be "more progressive," going to extremes such as the one put forth by Ocasio-Cortez, which would tax income above $10 million at a 70 percent rate, misses the broader scope.

"Certainly, the idea of government being more effective in terms of how it runs education or social programs, there’s a lot of opportunity for improvement there," Gates said in the podcast. "In terms of revenue collection, you wouldn’t want to just focus on the ordinary income rate, because people who are wealthy have a rounding error of ordinary income."

Click to expand...

Demonstrating once against what a dimwit DEMOCRAT AOC is.

There isn't a single slam in that piece you dimwit. He thoughtfully explains he doesn't the believe the plan to be correct.

American said:

Bill Gates slams Ocasio-Cortez, says her tax policy is '''missing the picture''' | Fox News


Demonstrating once against what a dimwit DEMOCRAT AOC is.

Click to expand...

Are you planning on making a new thread about her every single day, or are you going to take some days off?

American said:

Bill Gates slams Ocasio-Cortez, says her tax policy is '''missing the picture''' | Fox News


Demonstrating once against what a dimwit DEMOCRAT AOC is.

Click to expand...

Im still trying to understand "Income equality"

1) Life is not fair
2) hardwork is the only thing you can show for value
3) Our Top 1% gained their money from only a couple of areas, Trading money, Or building conglomerate business. IF YOU Tax the snot out of the 1% Those conglomerates like, Apple, Microsoft, Amazon, Walmart etc... Will Say screw this, move out of country or close their doors guess what those MILLIONS of Jobs are gone, Business is gone all these people will be out of jobs.


You can wish for morality ALL you want...... but "Reality" is this. You want something its NOT free, you have to work and strive for it. What happened to those days when I was a kid and had to get a paper route at 7 years old to get that toy I wanted.

What happened to those days I understood that I need to volunteer or take a low skilled job work my way up, be it toilets, fries, register then shift manager. NOW Everyone expects to be $50k starting salary with benefits........

REALITY....... these people are SO far from it.... California & New York big business are exiting those state BECAUSE of the Taxes....... But they still want to keep pushing this stuff... unreal...

American said:

Bill Gates slams Ocasio-Cortez, says her tax policy is '''missing the picture''' | Fox News


Demonstrating once against what a dimwit DEMOCRAT AOC is.

Click to expand...

one of the richest people in the world saying tax increases to a rich is a bad idea, yeah, no bias there. AOC is a dimwit, what does that make you that all you can do is copy and paste some article and posting a dumb one liner demonstrating true dimwit characteristics

The answer is always this dumb BS of "people will dodge taxes". So why do we tax at all? The rich already have it all, all the power, most of the wealth, but we can't tax them more because they may try to hide their money? That's the reasoning, defending greedy assholes.

Piner said:

There isn't a single slam in that piece you dimwit. He thoughtfully explains he doesn't the believe the plan to be correct.

Click to expand...

Probably paid to troll and post as much dumb **** as possible. Although, should be giving the money back, pretty poor quality of troll, the dumb is so obvious

I guess I missed the "slam" in his words. I know you guys are terrified of her and desperate for a win, but Jesus this is sad.

American said:

Demonstrating once against what a dimwit DEMOCRAT AOC is.

Click to expand...

"But Gates spoke approvingly of a general wealth tax, the estate tax, and changes to Social Security in order to increase tax revenue. 'But we can be more progressive, the estate tax and the tax on capital, the way the FICA and Social Security taxes work. We can be more progressive without really threatening income generation.'"

Just curious, American, do you support Gates' alternatives? Better or worse that AOC's?

To confirm, Gates' tax ideas,

- Implementing a tax on an individual's net total worth (similar to Elizabeth Warren's proposal)
- Strengthening the current estate tax (opposed by Congressional Republicans, who wish to repeal it)
- Turning FICA flat rate taxes to marginal tax structure (current FICA is a flat 7.65% on the employee regardless of net total taxable income)

Sampson Simpson said:

one of the richest people in the world saying tax increases to a rich is a bad idea, yeah, no bias there

Click to expand...

No ... this is one of the richest people in the world saying that AOC's tax ideas don't go far enough. Read the article.

Exactice said:

Im still trying to understand "Income equality"

1) Life is not fair
2) hardwork is the only thing you can show for value
3) Our Top 1% gained their money from only a couple of areas, Trading money, Or building conglomerate business. IF YOU Tax the snot out of the 1% Those conglomerates like, Apple, Microsoft, Amazon, Walmart etc... Will Say screw this, move out of country or close their doors guess what those MILLIONS of Jobs are gone, Business is gone all these people will be out of jobs.


You can wish for morality ALL you want...... but "Reality" is this. You want something its NOT free, you have to work and strive for it. What happened to those days when I was a kid and had to get a paper route at 7 years old to get that toy I wanted.

What happened to those days I understood that I need to volunteer or take a low skilled job work my way up, be it toilets, fries, register then shift manager. NOW Everyone expects to be $50k starting salary with benefits........

REALITY....... these people are SO far from it.... California & New York big business are exiting those state BECAUSE of the Taxes....... But they still want to keep pushing this stuff... unreal...

Click to expand...

you talk about reality, then make a dumb post about "hard word will get you money".Sorry, I see millions of american busting their asses day to day basis and barely getting by, so spare this BS that all it takes is hard work. That's crap, plenty of really hard working poor. If you have money, you make money, that's how this country works.

The people who have all the money, will continue to make the money just by having it. no work required. The more money you have, the less work it takes to make more money. You can live off interest.

You can't tell me CEOs that go around shaking hands while their workers do all the actual work work hard enough tow arrant multi million dollar salaries, or CEOs of failed companies taking home millions in payouts. You can work only so hard, if the companies are keeping all the profits and not paying workers, hard work means nothing.

Today, American workers are more productive, work longer hours, and that is not translating into increased pay. so there goes the hard work will get you paid nonsense. The pay is stagnant, even decreasing considering the rising cost of living everywhere

brothern said:

"But Gates spoke approvingly of a general wealth tax, the estate tax, and changes to Social Security in order to increase tax revenue. 'But we can be more progressive, the estate tax and the tax on capital, the way the FICA and Social Security taxes work. We can be more progressive without really threatening income generation.'"

Just curious, American, do you support Gates' alternatives? Better or worse that AOC's?

To confirm, Gates' tax ideas,

- Implementing a tax on an individual's net total worth (similar to Elizabeth Warren's proposal)
- Strengthening the current estate tax
- Turning FICA flat rate taxes to marginal tax structure (current FICA is a flat 7.65% on the employee regardless of income)


No ... this is one of the richest people in the world saying that AOC's tax ideas don't go far enough. Read the article.

Click to expand...

OK, thanks, I didn't put much stock into reading it given the trolling nature of the OP, but I should have known their conclusion didn't actually match what the article says. It's par for the course from them

Another AOC-bashing thread. :mrgreen:

Sampson Simpson said:

one of the richest people in the world saying tax increases to a rich is a bad idea, yeah, no bias there. AOC is a dimwit, what does that make you that all you can do is copy and paste some article and posting a dumb one liner demonstrating true dimwit characteristics

The answer is always this dumb BS of "people will dodge taxes". So why do we tax at all? The rich already have it all, all the power, most of the wealth, but we can't tax them more because they may try to hide their money? That's the reasoning, defending greedy assholes.


Probably paid to troll and post as much dumb **** as possible. Although, should be giving the money back, pretty poor quality of troll, the dumb is so obvious

Click to expand...

My Economics are very limited, but I think I have a basic grasp.

Explain to me How bills and Dept to income ratio works. With that. Gates explained his wealth and why it doesnt work the way they expect it.

I explained that there generally 2 ways of money for the top 1% (Trading and Conglomerates) a 3rd exist (Property) but that goes back locally meaning they purchased property within their respective states and pay local taxes on said property.


With that, Is it not true that these "Greedy Assholes" are also the source of Jobs and benefits to many Working Americans? If we tax them the lose all incentive to keep their business open or LIVE in the country that they provide support for. the 1% pays 50% of all taxes......Yet we want to tax them more to make it "equal"

Next is just my experience of running a small business. understanding the debt to income ratio. Paying for a product, having a location to sell the product and then all the appropriate taxes that go with it. Then the business expands and I add on more product then Workers that has mandatory payroll and benefits. I need to equate how much product I have to sell to break even. I then generate a profit and I eventually work to be autonomous. Fruits of the labor. Yet you want to tax them because you see it unfair that they maintain 99% of the wealth.

Lastly specific to Gates HIS wealth is NOT tangible its not sitting in a freezer in suit cases, its Digital currency all based on speculation. That goes WITH MOST business. If you TAX him or the economy tanks. Those 1% lose a HUGE amount of their "Asset" wealth. THIS is what Gates is TRYING TO Explain.

If their wealth is based on their estimated value. these guys will sell off take their REAL tangible assets and live somewhere else.. Gates has a Net worth of 100 billion, BUT does he actually have $100 billion or is this just "stock shares and not fiat currency"..... YES..... they have missed the point.

Sampson Simpson said:

......

Click to expand...

Dumb post? Explain to me about dumb post, as I have gained the benefits PERSONALLY of the fruits of my labor. I am NOT educated, I am not a trust fund baby, I had zero support. YET I feel I am making great money family of 4 fully supported, own 2 properties and I play golf once a week. Mind you I do NOT have a college degree but I BUSTED MY ASS to get where I am today. So dont tell me what dumb or not when I have experienced it.

With that I agree, THE RICH will continue to get rich. BUT that does not mean with the right direction and the right attitude and work ethics does NOT mean you are NOT able to achieve something greater. Bill gates, built a small computer in his basement, Zuckerberg dropped out of college to make Faceboook, Bezos was selling crap out of his Garage with his wife, Tim cook and Steve jobs, both dropped out college to build these monster.

You say CEOs. I took a CEO interview once as I was interested. This WOKE my ASS up big time understanding the "responsibilities" Now here are 2 defining points, IF these guys F-UP morally they should NOT get Golden Parachutes. BUT.... During their tenure..... A salary deserving is JUSTIFIED, here is why.

Walmart CEO makes likely close to $1mill in salary alone, then add on the stock options as well as the benefits and bonuses. Sounds RIDICULOUS no? Sounds SO UNFAIR to the hard workers of the everyday company, Sounds so crappy that they dont come down their ivory tower to shake hands with the worker. BUT has anyone really understood the GRAVITY of their responsibilities. Walmart Employees 2.1 Million people in the US alone. The Walmart CEO makes the final decisions that single decision could BANKRUPT or destroy the company. 2.1 million peoples lose their job as well as benefits and we lose a conglomerate that provides for the nation.

Now think about Gates and his leadership with Microsoft how many people he employees. the Contracts with the Government to provided tech. the R&D for enhanced tech....

Apple. Products

Amazon

YES the wealth and Assest wealth is ASTOUNDING, BUT again they also carry the burden to keep the company solvent to help employ the MILLIONS of workers NATION wide. You might not care, but when I took that CEO test/interview it blew my mind how self I really was thinking oh Im just a small business owner and Im trying to make a profit to pay my bills. THESE guys dont have to worry about bills , They have to worry about the MILLIONS of people they employ.


Todays workers YES do work harder, Longer hours But let me ask you this. As I have done it personally, have you lived on PURELY NEEDS and eliminated all your "WANTS"..... I have $15,700 Gross ($12,560, $1046 net montly) net income my first year I started my company was my MINIMUM to survive, After busting ass for 1 year, I got over that "Gross" number and I kept busting my "ass" To finally reach a wage that was comfortable. IT took me 5 years and my business is running well after my 6th year. currently my income has grown tremendously, and reaping the autonomous benefits where I can enjoy life more and make more money.

I get it I understand it. The last point I leave you, is IF they TAX the Crap out of me and increase "Government" assistance. Then why should I start and run my own business. Why not work for the Gov. get a steady salary and benefit from tax payers like yourself and maybe not even work and still get a salary.

We lose JOBS, we lose innovation as well as productivity.

Its what some people are WILLING to do for what they want..... Again REAL simple question have you reversed budgeted PURELY on NEEDS eliminating ALL wants for 1 year.... Funny how much our Wants outweigh our needs.

This goes Exactly to the nations budget. We have so many "Wants" to the budget, yet can barely pay our needs.

I challenge anyone to review their budget and seriously TAKE OUT all their WANTS for a years and calculate a salary. Then think if they BUSTED their behind working as hard as they coudl for one year to build up their reserves... What actual income they could make and survive on.

The Rich also get rich due to frugalness as well as income efficiency.... Only Lottery winners Blow their money and become bankrupt in a year....

Sampson Simpson said:

you talk about reality, then make a dumb post about "hard word will get you money".Sorry, I see millions of american busting their asses day to day basis and barely getting by, so spare this BS that all it takes is hard work. That's crap, plenty of really hard working poor. If you have money, you make money, that's how this country works.

The people who have all the money, will continue to make the money just by having it. no work required. The more money you have, the less work it takes to make more money. You can live off interest.

You can't tell me CEOs that go around shaking hands while their workers do all the actual work work hard enough tow arrant multi million dollar salaries, or CEOs of failed companies taking home millions in payouts. You can work only so hard, if the companies are keeping all the profits and not paying workers, hard work means nothing.

Today, American workers are more productive, work longer hours, and that is not translating into increased pay. so there goes the hard work will get you paid nonsense. The pay is stagnant, even decreasing considering the rising cost of living everywhere

Click to expand...

There isn't a chance in hell the part in red is true. You haven't seen all those people, you're trolling.

Taxing rich folks and cutting taxes for real on the middle class makes sense. Giving billionaires and millionaires huge tax breaks has never verifiably increased jobs or pay. I'd posit that the current economic trend is not due to the tax breaks. It was going this direction regardless. Confidence I the key to a healthy economy - confidence among American CONSUMERS.

My logic is easy to follow.

More people getting a larger tax break means they have more disposable income. This disposable income is thus injected back into the economy purchasing goods or making investments. The larger individual number of consumers drives production which in turn creates jobs due to the higher demand.

What the adverse does is this. It gives a few amount of people a tax breaks in the hopes they will create more jobs. This makes zero sense. If there is no demand for their products, why would they create jobs. Taxing these folks at a higher amount does not reduce the number of jobs. If demand is high thanks to disposable income, then jobs will be created, regardless. What most rich folks do is buy back stock and other economic tricks used to enrich themselves.

It literally makes no sense to reduce taxes on the highest earners because there is no proof it works the way conservatives claim.

I agree with their anti-tax policy when it comes to folks making less than $120k a year. Yes, some areas are more pricey to live in. Those are detaisl that have to be parsed out. But don't fool yourself into thinking taxing rich folks damages the economy or costs jobs. Jobs are created when there is a demand for the products/services that are reliant upon those jobs. It's not the other way around.

And thus, why republican scheming about cutting taxes for rich folks, and Reaganomics, is a complete farce.