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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]

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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] 1 points 10 months ago* (last edited 9 months ago) (1 children)

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

Its not silly. Its a fact of economics for everyone. I compete with other people about my income level for the type of housing I might buy. If I voluntarily lower mine in relation to everyone else because we decide the best way to fund government is some sort of voluntary charity affair then giving more would cause me to lose in the bidding process of a possible home. That is why taxes have to be collected from everyone equally based on their relative wealth.

[+] [email protected] 1 points 10 months ago* (last edited 9 months ago) (1 children)

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

its not about that. Im not sure if your being disengenous or are actually not getting what I just said. Its pretty plain. Someone who has 20B is not going to be able to buy the same real estate as someone with 120B For that matter it would also be other large things like companies at that level but I use houses because folks can understand that a bit better. By hook or crook they got to where they are at and they are not going to give it up for just themselves because some people want the goverment to work on a charity methodology. Taxes have to be collected and they need to do so in an even handed manner based on wealth. The right likes to complain about high taxes but they are incredibly low and have underfunded things for over 40 years now which means we actually need higher than normal taxes at some point in the future to ever be prosperous again as a society. The amount does not matter so much though as consistent collection to keep the relative playing fields level as the most expensive things people buy are somewhat limited and done in competition with each other.