7 ms·

It won't, and Bill will and has spoken out against any serious proposals to tax wealth, which is a different kind of taxation than an income and even an estate

It won't, and Bill will and has spoken out against any serious proposals to tax wealth, which is a different kind of taxation than an income and even an estate tax. Seriously this happened only a month ago, how has everyone already forgotten about it? https://www.commondreams.org/news/2019/11/07/taxing-bill-gates-100-billion-counters-bernie-sanders-could-end-homelessness-and https://www.commondreams.org/news/2019/11/07/taxing-bill-gat...

jjeaff 7y ago
Whether Bill likes it or not, a wealth tax is likely a non-starter anyway. It's amazing that several candidates are running on a wealth tax when it is pretty likely that it would require a constitutional amendment. Courts already found the carriage tax unconstitutional, which is effectively the same thing.
- lonelappde 7y ago
  Are you sure? https://en.m.wikipedia.org/wiki/Hylton_v._United_States https://en.m.wikipedia.org/wiki/Hylton_v._United_States
  - jjeaff 7y ago
    I must have misremembered that detail. But I believe the point of what I had read was that a direct tax would be unconstitutional. A carriage tax was found to not be a direct tax apparently. But a general wealth tax likely would be.
lonelappde 7y ago
Why make such blatantly false statements? In that article, Bill Gates said that he has paid 10% of his wealth in taxes, and proposed paying 10% more, but expressed concern about paying 90%. I applaud you for having the chutzpah to link to a source you brazenly misquote.
- kyledrake 7y ago
  Allowing the billionaires to set the reasonable taxation rates of this discussion is a testament to how brainscattered people are on this. 10% would still leave an enormous amount of money left over and far more than he would ever need. His great great great grandchildren would still be multi-billionaires.
- blaser-waffle 7y ago
  lol at 10% more. A whopping 20%. US Federal income tax for 2020 is 24% at $85,525 for a single filer ($171,050). The long-term capital gains tax rates are 0%, 15% and 20% under the 2018 changes.

jjeaff 7y ago

Whether Bill likes it or not, a wealth tax is likely a non-starter anyway. It's amazing that several candidates are running on a wealth tax when it is pretty likely that it would require a constitutional amendment. Courts already found the carriage tax unconstitutional, which is effectively the same thing.

lonelappde 7y ago
Are you sure? https://en.m.wikipedia.org/wiki/Hylton_v._United_States https://en.m.wikipedia.org/wiki/Hylton_v._United_States
- jjeaff 7y ago
  I must have misremembered that detail. But I believe the point of what I had read was that a direct tax would be unconstitutional. A carriage tax was found to not be a direct tax apparently. But a general wealth tax likely would be.

lonelappde 7y ago

Why make such blatantly false statements? In that article, Bill Gates said that he has paid 10% of his wealth in taxes, and proposed paying 10% more, but expressed concern about paying 90%. I applaud you for having the chutzpah to link to a source you brazenly misquote.

kyledrake 7y ago
Allowing the billionaires to set the reasonable taxation rates of this discussion is a testament to how brainscattered people are on this. 10% would still leave an enormous amount of money left over and far more than he would ever need. His great great great grandchildren would still be multi-billionaires.
blaser-waffle 7y ago
lol at 10% more. A whopping 20%. US Federal income tax for 2020 is 24% at $85,525 for a single filer ($171,050). The long-term capital gains tax rates are 0%, 15% and 20% under the 2018 changes.