Microsoft co-founder Bill Gates made some comments this week on the 'tax the rich' ideas making the rounds in America. Taxing the rich is fine, he said in an interview with The Verge, and "more progressive" taxes on the ultra rich are okay. Gates then went on to characterize Alexandria Ocasio-Cortez as an 'extreme' politician who is missing the point by focusing on targeting high income brackets. AOC identifies as a Democratic socialist, and in January 2019 floated the idea of a 70 percent marginal rate on earned income over $10 million. Gates said in the interview that tax policies should focus on taxing wealth, not income, since the super-rich tend to have wealth in the form of assets, rather than income. "If you focus on that, you're missing the picture," he said without mentioning AOC by name. From Nilay Patel at The Verge: Speaking on The Vergecast this week, Gates said that while marginal tax rates in the United States can be “more progressive” — higher, in other words — there are now some politicians who are “so extreme” that their proposals would lead to wealthy people hiding income and stashing it offshore.
Bill Gates Debates Alexandria Ocasio-cortez 'tax The Rich' Policy
Xeni Jardin, Boing Boing
Tue, 02/12/2019 - 10:09am
Topics: america taxing aoc democratic january from nilay patel speaking the vergecast united states rep alexandria ocasio-cortez d-ny but gates fica bernie sanders you vox what mmt that shane goldmacher shanegoldmacher february gates gates bill gates verge alexandria ocasio-cortez ocasio-cortez social security ocasio-cortez policy tax the rich income percent rate wealth progressive marginal week interview focus missing theory assets taxes people picture estate extreme rates top
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