Just like matter and anti-matter, the world should be afraid of the consequences of the world’s (second) richest man meeting with the world’s most vociferous wealth-taxer.
During an appearance at the New York Times’ DealBook conference in New York on Wednesday, Bill Gates appeared to veer from his typical virtue-signaling supremo self, and criticized Elizabeth Warren over her proposed tax plan.
Gates began softly…
“I’m all for super-progressive tax systems.“
But then reality sank in:
“If I had to pay $20 billion, it’s fine. But when you say I should pay $100 billion, then I’m starting to do a little math about what I have left over.”
Gates went on to argue that taxing too much could jeopardize America’s status as the place to build innovative businesses (somewhat echoing Leon Cooperman’s recent impassioned comments on Warren’s tax plan would crush the American Dream), adding that he was somewhere in between the extremes of cutting the estate tax and imposing a 6% wealth tax on billionaires
And when asked if he would meet with Warren to discuss this, Gates responded:
“I’m not sure how open minded she is – or that she’d even be willing to sit down with somebody who has large amounts of money.”
Social media, of course, erupted against Gates’ blasphemic comments but it was Warren herself that took to Twitter to reach out an olive branch (maybe)…
“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'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.) https://t.co/m6G20hDNaV
— Elizabeth Warren (@ewarren) November 7, 2019
It turns out, Gates wouldn’t pay $100 billion under Warren’s plan… it would reportedly be a mere $12 billion (per year).
Gates is hoping the more professional candidate is electable, he added.
“I’d love somebody to find a middle-ground approach, because the government’s role in health care and better education — the government does need more resources than it has today,” Gates said.
One twitter troll perhaps nailed it best…
She wants to privately assure him that is her public stand, not her private one, but it’s just between the two of them.
— CoastingAlong (@CoastingAlong49) November 7, 2019
It’s not like we can trust a word that comes out of her mouth anyway (or perhaps 1/1024th of her mouth)?
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She might give him some assurances, but remember – she’s an Indian-giver.
If a progressive tax system is so fair, then I think we should extend the concept to, say, the grocery store.
When you roll your shopping cart to the register, you’ll present your gov’t sanctioned, mandated, official, with picture and obligatory legalese BS on it to the checkout person or simply insert it into the robotic station. A computer will then determine how much you pay according to your ability. Now that’s fair, isn’t it?
The person behind you that doesn’t work and has no income has a cart full of steaks because his bill will be $0. The average worker’s cart will be full of peanut butter and Ramen noodles because his bill won’t be $0. Soon, the worker will realize that progressive grocery bills aren’t such a hot idea.
Why, exactly, is progressive taxation such a wonderful concept?
Do you think anyone is going to stop progressive taxation from happening? If not, why do you think that is? Take a guess.
As long as there is gov’t, it will grab as much as possible from those that have it. It’s the Willy Sutton philosophy.
Taxation is theft, no matter how you try to justify it.
Now, do I think it will end, no. However, progressive taxation is reaching ever lower so that more and more people are feeling the effects of progressive tax rates and if this trend continues, at some point folks might object strenuously.
I objected 15 years ago along with the ever increasing gov’t in my face regulations, fees, legal lunacy, so I left. Voting with your feet is a solution.
What do you think a fiat currency system is? Gifts and giggles?
You have a lot of questions.
For the latest set, I fail to see how they directly apply to the current topic, especially the latter question. Obliquely, fiat currency touches every aspect of our lives but presents too broad a target when applied to this article.
FYI – I’m well versed in funny money dynamics. Fiat currency is a giant swindle.
And who does it benefit?
I question so that you will think.
If by ‘it’ you mean fiat currency, the beneficiary is anyone who has access to its issuance first, anyone that gets bailed out, the gov’t in general so they can have deficits, the banks and gov’t paper investors that receive interest, the MIC that doesn’t have to pay for war directly, the corporations that have access to cheap currency via their manufactured credit rating, and on and on.
We do not have a progressive tax system, it’s regressive. All taxes go to the end consumer….who do you think that is?
Taxation is not “theft” it’s “coercion”. There’s a difference.
Jeeessh people, think. Oh, and words matter. Use the right ones.
That’s why a wealth tax.
It’s coercion up until the time the money is transferred. The act of attempting to get the money is coercive.
After that it becomes theft when the original owner was denied his property.
You’ve described the college financial aid system (FAFSA) perfectly.
The solution to this college funding problem as well as awful product it produces (SJW, Antifa types, LGBTLMNOPWXYZ advocates) is to shut down all courses not STEM.
Next, rescind all non STEM degrees ABOVE bachelors for all non STEM fields. Bachelors degrees are an admission that possibly in a few hundred thousand years fields like Climate Science, Economics, Law, etc might actually produce something that isn’t 100% OPINION. It is possible, but I doubt it.
Then cancel all student debt for the cancelled degrees forcing the universities to refund, with interest, all fees paid for what always were bogus degrees.
I thought you believed in capitalism and freedom.
I don’t believe in fraud.
Handing out degrees in opinions is fraud.
Its capitalism. Caveat emptor.
Savant,
You’re missing the fraud. You’re looking one way while getting fucked the other way.
The fraud is that student loans are not dischargable. You cannot have capitalism without bankruptcy.
I wouldn’t agree that non dischargeable debt is fraud per se.
Is it reprehensible, yes.
Is it counterproductive, yes.
Is it fraud, maybe
It becomes fraud if the change in the law occurs after the original debt was incurred or its accumulation over time was expected as that’s changing the rules in the middle of the game.
Offering degrees in such nonsense as Gender Studies, Hospitality Science, Recreational Science, etc is the original fraud as it elevates absolute nonsense to a pretend respectability in order to extract funds from dupes.
I’ll agree that these dupes to some extent deserve to be taken, but this is clearly a predatory policy set up by people who know full well they are looking for impressionable marks. It’s the old snake oil salesman pitch that, unfortunately, some fall for.
As you might expect, I have a solution to this situation.
Write. An. Article.
Who do I send it to?
You can send it to me if you like. Heyeview at googlemail. I was joking about me picking the title. Ask around, you can trust me.
P.S. – we do look forward to new voices.
Make everyone work in 100 degree field tending to crops. Then at the evening each gets to each based on their effort in the field that day. That is progressive.
However, the leftist dems want the opposite. The ones that worked hardest in the blazing sun all day get a few crumbs while the lazy xboxers sat inside an air conditioned home all day and get to eat first all the meat they want. Everything about democrats is literally opposite. That us why I oppose them in every way and when I get confused I look to see what a dem is asking and move in the opposite direction. They are all insane.
…Gates wants to give all his money away!! He’s a phony mother….. r. Warren wouldn’t tax him they are on the same side.
How many people said Pence a while back?
I can recall but a few.
—
How many people said Pence a while back?
I can recall but a few.
https://www.deseret.com/utah/2019/11/5/20949767/mexico-mormon-polygamist-massacre-mothers-children-killed-ambush-latter-day-saint-settlement
Civil War just canceled.
Great Salt Lake.
The narrative here after only reading s few sentences is literally allow billionaires to start complaining. Allow Warren to fight with them. What is missing is the faxt that democrats believe anyone with a job is just as rich as a billionaire and want to tax you just like Bill Gates. But they will only show Warren fighting with Billionaires. People that can easily hire tax attorneys, move, shelter assets in trust etc. They can still live a million percent better even if you took 95% of their wealth away.
I really have concluded democrats and leftist are brainwashed and have such low IQ that they are on a path of self destruction and will take all us normies with them eventually.
I read the entire thing now. Seems Warren said “this is how much you would pay”. Notice what is missing, what Bill would GET for paying……they never discuss the bargain. There is a payment but never an offer of anything. They wont even commit to spending it wisely. Yet the young marxist love the whole idea of certain people and govt in control of themselves. These kids today have bene taught the govt is their friend against bullies. The govt identified working people and people that save and rich people as the bullies. Hence the adoration of govt by these weak minded to strike back at these bullies at all costs, even if they must become subjects of the govt. they are willing to give up and be bullied by the govt instead of their made up bully. They do not fear a govt bully although like an alligator neither make a good pet historically. They refuse to see this and will pay dearly while making everyone pay dearly.
Billionaires have, according to the interwebs, 3.2 trillion dollars. A 6% tax on that is 192 billion per year. Warren’s “healthcare plan” costs, according to her anyway, 52 trillion over ten years. My math tells me that is 1.92 trillion over ten years. That seems like a ‘slight’ shortfall.
What kind of calculator did you use for this maff problem?
I took off my shoes and socks and used all 30 of my digits. 🙂
Did I drop a zero or add one?
Cool avatar BTW.