Skip to comments.Gates: Tax consumption to fix unemployment caused by technology [VIDEO]
Posted on 03/18/2014 8:28:21 AM PDT by upbeat5
Billionaire software mogul Bill Gates has joined the growing chorus of tech experts who predict that low-skill Americans will face greater unemployment because more jobs are being done by software and robots.
The Microsoft founder, whose net worth is $76 billion, suggested the problem could be fixed by reducing taxes on employers and raising taxes on employees, via the reduction of payroll taxes and the addition of new federal consumption taxes.
(Excerpt) Read more at dailycaller.com ...
What a jerk.
If he thinks he caused it, he should liquidate his entire wealth and contribute all of the proceeds to the Salvation Army.
What a POS, rich or not.
Tax “consumption”....yeah...now that he has all HE needs...pity the young
“...suggested the problem could be fixed by reducing taxes on employers and raising taxes on employees.”
There is something to his proposal to eliminate taxes on something society wants, more employment, and replacing that with consumption taxes. Although Gates speaks out of both sides of his mouth since he is a big proponent of bringing in millions of cheap foreign labor. Taking his views as a whole he wants the gov’t to cut taxes on employment making it easier for him to hire cheaper foreign labor.
This is absolutely true. The rest is carp. What we need to do is get all levels of government off the back small businesses.
Many of these "low-skill" Americans would create their own jobs and small businesses if it weren't impossible to open up so much as a lemonade stand without the bureaucracy taking several pounds of flesh for each and every license and permit.
Why is it that Americans listen to people who have no background in the fields they are prescribing solutions for (e.g., Gates is not an economist; Gore is not a scientist)?They have no credibility yet we allow them to pontificate to us. The sheeple are truely gullible.
I think we should switch to 4 10-hour days work week
I would do anythign for 3 day weekends each week
including have time to work on my startup businesses
“The Microsoft founder, whose net worth is $76 billion, suggested the problem could be fixed by reducing taxes on employers and raising taxes on employees...”
How about instead we take Bill Gates’ $76 billion and give everyone who ever purchased a Microsoft product $10,000 per product for their pain and suffering. So if you suffered through Windows 95, Windows 98, Windows XP, and Windows 7, Bill Gates would be required to cut you a check for $40,000. Then any leftover money could be used to hire every out of work IT person to fix all the Microsoft products that are still messing with our daily lives. That is how you start to fix the economy.
Why not? The problem is not that Bill Gates doesn't pay enough in taxes, it is that the proles consume too much. Why not stack them in high-rise cement Stalinesque style rabbit hutches so they can walk or take public transportation to work?
We only need a middle class to administer our Utopian bureaucracy anyway. No more than 10% of the populace to enforce the orders of the 1% of the elite should do it. < / sarcasm >
Well since technology is the problem Tax the tech companies....
Let’s hope this jerk never runs for public office. He could help solve the problem he sees by pulling all his products off the market. I think I would still be able to type and proofread my own letters without his help. I was able to do that before he was born.
He doesn’t see his contributions of wealth and influence in Common Core will accelerate the problem of unemployment? Heck, when Common Core gets done with students, it will take all day for a prospective employee to complete an aptitude exam; if one is even needed in today’s world.
I like that idea: All gov employees in gov housing on gov healthcare using gov transportation. Let them thoroughly taste what they produce.
“That is how you start to fix the economy.”
By failing at math?
I understand the ire, but the numbers don’t begin to add up.
I occassionally employ low skill workers.
But when I do, I have to be there or else, they wont work, and they will steal.
So alot of the time, I say to hell with it and do the job myself.
Traitors, complicit with the dems in the destruction of the Republic.
There was always petty pilferage from the construction sites as work was in progress. It became so annoying that we hired guards at a little more then the going rate of $4 per day. The pilferage actually increases so we dismissed the guards and the pilferage returned to normal levels. Go figure.
I think we should switch to 4 10-hour days work week.”
My employees have been working 4 ten’s for a couple of years now and everyone loves it. Plus they have flex hours. Can start as early as 7 a.m. and as late as 8:30 a.m. Half work Tuesday to Friday and half Monday to Thursday. Allows for travel to/from outside of heavy traffic hours and they get more done in four ten hour days than they did five eight hour days. They can eat, drink and smoke at their desk if they want and most don’t take a lunch break but eat at their desk. Just works for everyone.
Which is why the “low skilled” need to be self employed. But as long as the barriers to self employment from government (regulatory schemes as well as taxes on working and saving) remain, most will remain unmotivated to being productive.
We really are headed toward a dystopian future of feral rabble walled off from the educated elite served by robots. The middle class will disappear.
Can i come work for you?
“I would do anythign for 3 day weekends each week.”
How about 4 day weekends every week? I offered that to my employees. The catch was working 12 hrs on Fri Sat and Sun.
He's supporting and agenda in search of a villain to blame.
This entire big government crowd needs to get their “population control via smothering gov’t regulations” agenda, the hell out of the way, and let the private sector provide the technical and market solutions to our energy and employment problems.
Consumption taxes places the tax burden disproportionately on the lower incomes, because those who earn less money uses a greater percentage of their income for consumption purposes.
And if you ever used Windows ME you get an additional hardship bonus of $5K
The Fair Tax took that into account by exempting the first X dollars spent.
Made me smile which I really needed today.
A lot of offices can operate this way or do some version other than 9-5 M-F, if they only would. But you do have to have the right kind of people working with you and the boss cannot be a control freak. Some people don’t do well with independent functioning. No office situation is roses all the time - one of my employees has always been unhappy because we aren’t shut down for MLK’s birthday so this year I gave her the option of taking the day off without pay which she opted not to do. I know a couple of them have looked elsewhere at employment possibilities but that was short lived after they looked at the inflexibility of their potential new employer.
So low skilled workers will be unemployed, but we got to embrace illegals who are only here, let us face it, to mow our lawns...
Is this guy stupid?
You say that like it's a bad thing. According to another FR article I just read, we have the most progressive tax system in the world. This would help that. I think welfare recipients should pay taxes, like everyone else.
Bill never should have quit his day job.
I didn’t say anybody shouldn’t pay taxes. Did you read those actual words from me?
I just consider it of some importance that those who are poorer not be taxed to the point where they cannot provide for themselves.
First you have to tax them before you get to the point where they cannot provide for themselves. Over half the people in this country pay nothing at all.
How about we just reduce taxes on everyone?
Hey Bill, we need a consumption tax on EVERYBODY at the SAME rate.
Abolish the IRS, eliminate the tax code, eliminate the income tax.
Sit back, watch the economy roar.
Or Vista ...
It’s a good thing they don’t tax stupid.
Maybe he would feel better about Hillary’s WEALTH tax.