Sun. Apr 21st, 2019

Bill Gates says tax policies like Alexandria Ocasio-Cortez’s are ‘missing the picture’

Bill Gates says tax policies like Alexandria Ocasio-Cortez’s are ‘missing the picture’

Bill Gates thinks taxes can be higher.

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” their proposals would lead to wealthy people hiding income and stashing it offshore. That’s a clear reference to new members of Congress like Rep. Alexandria Ocasio-Cortez, who had just suggested a new top tax rate of 70 percent in the week before Gates sat for this interview.

Gates also said that the world’s wealthiest people only have a “rounding error” worth of actual income compared to their wealth — they don’t have a lot of…

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Source: https://www.theverge.com/2019/2/12/18220756/bill-gates-tax-rate-70-percent-marginal-modern-monetary-theory

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