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Bill Gates thinks the super-wealthy should pay more tax – and plenty of rich people agree (www.businessinsider.com)

submitted 10 months ago by [email protected] to c/[email protected]

214 comments fedilink hide all child comments

Bill Gates wants ultra-wealthy individuals to pay more tax — and now a growing chorus of billionaires agree.

In his annual "Ask Me Anything" forum on Reddit last year, the Microsoft cofounder said he was "surprised" that taxes for the rich haven't been increased more.

Gates doubled down on his calls to tax the rich in a panel at the World Economic Forum in Davos this week. He said the wealthiest nations should donate more money to developing countries to help redress inequality.

"Those who have the most — whether it's countries, companies, or individuals — should be pushed to be more generous," he said.

It seems others agree, as more than 250 ultra-wealthy people signed an open letter calling for global leaders to impose a wealth tax.

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[–] [email protected] 46 points 10 months ago (2 children)

Dear Bill,

Would you be up for taxing charities owned by billionaires?

Sincerely yours

[–] [email protected] 13 points 10 months ago* (last edited 10 months ago) (1 children)

Charities are such an obvious money laundering scheme. "Philanthropy" my ass, it's always tax evasion, all of this is just for the gallery.

Source: https://ips-dc.org/report-true-cost-of-billionaire-philanthropy/?mc_cid=bfa8894a28

[–] [email protected] 8 points 10 months ago (1 children)

Billionaire philanthropy is also frequently a PR thing-- image rehabilitation.

[–] [email protected] 4 points 10 months ago* (last edited 10 months ago)

That's in the "Oh and to sweeten the deal we'll also throw in these flashy sunglasses for ya, how about that" part of the contract.

It's about money laundering, everything else is negotiable.

Here's one of a thousand sources btw, https://ips-dc.org/report-true-cost-of-billionaire-philanthropy/?mc_cid=bfa8894a28

[–] [email protected] 7 points 10 months ago (3 children)

The point of a charity is the wealth is no longer owned by the donor, and it has to be used for one of a few purposes in the public interest. Depending on how the charity is incorporated, I believe some have minimums they must pay out.

Regardless, really?

[–] [email protected] 4 points 10 months ago (1 children)

It's really not that simple, and depends on such a ridiculous amount of variables. If you think these multibillionaires are giving away their money out of the kindness of their hearts you're deluded.

[–] [email protected] 2 points 10 months ago* (last edited 10 months ago) (1 children)

Where there are many variables, one can always find ways to nudge things in the right ways so that you can get from point A to any other point B despite many other constraints put on your movements.

[–] [email protected] 0 points 10 months ago (1 children)

Ok.

[–] [email protected] 2 points 10 months ago (1 children)

subriemannian geometry

[–] [email protected] 0 points 10 months ago (1 children)

Transliterative or transcendent?

[–] [email protected] 1 points 10 months ago

transversal

[–] [email protected] 3 points 10 months ago

yes really, instances of abuse of charities by b/millionaires for tax evasion and money laundering are far too common (including transfer of donations back to the donor by indirect ways) https://www.oecd.org/tax/exchange-of-tax-information/42232037.pdf

Where there is a way to abuse something for tax evasion billionaires will find a way