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Bill Gates Laughs At Buffett Rule: 'You Can't Raise Taxes We Need Just By Going After That 1%'
Newsbusters ^ | 10/31/2011 | By Noel Sheppard

Posted on 10/31/2011 9:07:02 AM PDT by SeekAndFind

America's richest man isn't going to make President Obama, the folks in the Occupy Wall Street movement, or their respective supporters in the media happy.

Appearing on ABC's This Week Sunday, Bill Gates laughed when asked about the Buffett Rule saying, "You can't raise the taxes we need just by going after that one percent...to really deal with the deficit gap we're talking about, that alone just numerically is not going to be enough" (video follows with transcript):

CLICK ABOVE LINK FOR THE VIDEO

CHRISTIANE AMANPOUR, HOST: The Buffett Rule, for instance, and all the other proposals the president is making are being called class warfare by his opposition. Do you agree with the Buffett Rule? Do you support that?

BILL GATES: Well… (LAUGHTER)

AMANPOUR: Why is it funny?

GATES: Well, I just can't imagine the -- these millionaires and billionaires going down and -- barriciding (sic) the streets because they're going to have to pay four or five percent more in taxes. I mean it's going to be rough for them… There certainly is a case to be made that taxes should be more progressive. And, you know, that -- that's being debated by various people.

AMANPOUR: Do you support the Buffett Rule?

GATES: I'm not an expert on how we should do taxes. Clearly, you can't raise the taxes we need just by going after that one percent. Yes, I'm generally in favor of the idea that -- that the rich should pay somewhat more. But to really deal with the deficit gap we're talking about, that alone just numerically is not going to be enough.


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events; US: Washington
KEYWORDS: amanawhore; billgates; buffetrule; gatesfoundation; microsoft; taxes; warrenbuffet; warrenbuffett; windows

1 posted on 10/31/2011 9:07:12 AM PDT by SeekAndFind
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To: SeekAndFind

maybe they should just tax our electric usage?


2 posted on 10/31/2011 9:12:14 AM PDT by the invisib1e hand (...then they came for the guitars, and we kicked their sorry faggot asses into the dust)
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To: SeekAndFind
Even if ALL U.S. citizens were taxed 100% of their income, it would still not be enough to balance the Federal budget.

But the feds can't cut spending. Oh, no. That would be racist.

US Debt Clock


3 posted on 10/31/2011 9:13:40 AM PDT by E. Pluribus Unum ("Government does not solve problems; it subsidizes them." --Ronald Reagan)
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To: SeekAndFind

that’s a bloody rug on his head, isn’t it?


4 posted on 10/31/2011 9:14:15 AM PDT by the invisib1e hand (...then they came for the guitars, and we kicked their sorry faggot asses into the dust)
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To: SeekAndFind
"You can't raise the taxes we need just by going after that one percent...to really deal with the deficit gap we're talking about, that alone just numerically is not going to be enough"

You can't raise "the taxes we need" by doubling the income tax on everyone in the country. That's like asking someone who eats 12,000 calories a day to lose weight by exercising more - walking back and forth to the fridge. The only solution is to cut spending. We need a massive spending cut, back to the rather extravagant budgets of the Clinton years would be sufficient. Raising taxes will not help because the far left will simply raise spending to match.

5 posted on 10/31/2011 9:15:05 AM PDT by Pollster1 (Natural born citizen of the USA, with the birth certificate to prove it)
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To: SeekAndFind

AMANPOUR: Why is it funny?


Gates: Because I am only a half a lib rather then a full blown nut bar lib...yuk yuk yuk.


6 posted on 10/31/2011 9:16:10 AM PDT by Leep
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To: SeekAndFind

say what you will about Gates, he clearly stayed awake in math class


7 posted on 10/31/2011 9:17:55 AM PDT by Buckeye McFrog
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To: Buckeye McFrog

He also understands that the “1%” have very little that would be classified as “income”.


8 posted on 10/31/2011 9:19:02 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: Leep

RE: Gates: Because I am only a half a lib rather then a full blown nut bar lib...yuk yuk yuk.

Bill Gates Senior did not teach him well :)


9 posted on 10/31/2011 9:19:44 AM PDT by SeekAndFind (u)
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To: the invisib1e hand

Maybe they should stop spending what they are not given to govern with. Bouncing a check is illegal for everyone else!

There is not a lack of blood in congress, just a glut of vampires.


10 posted on 10/31/2011 9:22:17 AM PDT by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
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To: American in Israel

The 15 trillion dollar debt (just the tip of the debt obligation) is simply Cloward-Piven writ large.

They intend to use the debt to destroy America.


11 posted on 10/31/2011 9:24:03 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: SeekAndFind

GO ahead & say it Bill - Its a scam on the middle class. When this administration talks about raising taxes on millionaires & billionaires they’re really talking about tens and hundred thousandaires.


12 posted on 10/31/2011 9:30:37 AM PDT by skeeter
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To: SeekAndFind

Hey Gates,

How about instead we confiscate your NET WORTH and use it to hire hundreds of thousands of programmers to fix your buggy programs?


13 posted on 10/31/2011 9:35:51 AM PDT by anonsquared
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To: the invisib1e hand
that’s a bloody rug on his head, isn’t it?

Might be a dead critter. You'd think with his money he could afford something more realistic.

14 posted on 10/31/2011 9:46:42 AM PDT by Hoffer Rand (There ARE two Americas: "God's children" and the tax payers)
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To: anonsquared

Windows 7 is awesome, but I guess the old M$ $uX canard still plays to some crowds.


15 posted on 10/31/2011 9:48:32 AM PDT by douginthearmy
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To: douginthearmy; anonsquared

Bill Gates is NO LONGER running Microsoft. He hasn’t been for 5 years.

Take any technical complaints up with the other billionaire Steve Ballmer.


16 posted on 10/31/2011 9:52:33 AM PDT by SeekAndFind (u)
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To: SeekAndFind

Screw these billionaires... institute a wealth tax on gates and buffett... give them more of what they want... less of their own crap!

LLS


17 posted on 10/31/2011 10:09:35 AM PDT by LibLieSlayer ("Americans are hungry to feel once again a sense of mission and greatness." Ronaldo Magnus)
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Support Free Republic

18 posted on 10/31/2011 10:45:38 AM PDT by DJ MacWoW (America! The wolves are here! What will you do?)
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To: SeekAndFind

Simple solution. Eliminate all deductions (mortgage, charitable, local taxes, etc) for incomes above $1millon and watch how much Bill Gates will have to pay. He will no longer be able to deduct the billions he gives to the Gates Foundation.


19 posted on 10/31/2011 10:53:00 AM PDT by SC DOC
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To: LibLieSlayer

Screw these billionaires... institute a wealth tax on gates and buffett... give them more of what they want... less of their own crap!


1% annual portfolio/property/asset tax on anything over a couple million.

Then, end the income tax.


20 posted on 10/31/2011 10:58:41 AM PDT by Atlas Sneezed (Author of BullionBible.com - Makes You a Precious Metal Expert, Guaranteed.)
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To: SeekAndFind

Microsoft’s founder didn’t get to be the world’s richest man by being dumb.

Even if all the richest people in the country voluntarily handed over their wealth to Washington, it wouldn’t make a dent in the federal deficit.

But politicians like to play on the mob’s resentment of the rich for an illusory fix.

Ain’t no such thing. Gates is correct!


21 posted on 10/31/2011 11:33:30 AM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: SeekAndFind

Hey Billy Boy,

Tell it to your own old man! Doncha remember in 2010 when daddy Bill Gates Sr. tried to saddle the high-income folks in WA State with a new state income tax, a trojan horse for ultimately saddling ALL WA staters with an income tax?

Sincerely,
BKOPTO


22 posted on 10/31/2011 11:42:10 AM PDT by bkopto (Obama is merely a symptom of a more profound, systemic disease in American body politic.)
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To: Beelzebubba
I'll even be more generous to small businesses and state up to 10 million dollars in wealth will be exempt... make these dims that own ALL of the wealth in America pay... and pay with their own money... start with michael moore and wade through ALL of them... like Sherman through Atlanta.

LLS

23 posted on 10/31/2011 12:09:27 PM PDT by LibLieSlayer ("Americans are hungry to feel once again a sense of mission and greatness." Ronaldo Magnus)
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To: Beelzebubba
I'll even be more generous to small businesses and state up to 10 million dollars in wealth will be exempt... make these dims that own ALL of the wealth in America pay... and pay with their own money... start with michael moore and wade through ALL of them... like Sherman through Atlanta.

LLS

24 posted on 10/31/2011 12:16:08 PM PDT by LibLieSlayer ("Americans are hungry to feel once again a sense of mission and greatness." Ronaldo Magnus)
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