Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Bill Gates calls for higher capital gains taxes
CNBC ^ | 02 MAY 16 | Robert Frank | @robtfrank

Posted on 05/02/2016 8:29:17 AM PDT by DCBryan1

Bill Gates said investment gains should be taxed at the same level as ordinary income — a bold call for one of the world's largest investors.

Speaking Monday on CNBC's "Squawk Box," Gates said that he's "pleased" that there is more discussion around changing the tax code. When asked what he would alter, Gates sided with his pal Warren Buffett and said he supports raising the earned income tax credit.

But Gates also said he would raise the tax rate for capital gains — the largest source of income for the richest Americans. The current top tax rate on capital gains is 20 percent (with the highest earners paying an additional 3.8 percent surtax). The top tax rate on ordinary income is 39.6 percent.

"There's always been the question of whether taxes on capital should be a lot lower than taxes on labor," Gates said. "I tend to think they should be pretty much the same, and that that's an opportunity to be a bit more progressive."

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events; US: Washington
KEYWORDS: billgates; billionaire; capitalgainstax; cnbc; fairtax; flattax; gates; idiot; liberal; libtard; microsoft; moron; msft; progressive; squawkbox; stupid; taxcuts; taxreform; warrenbuffett; washington
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-76 next last
To: DCBryan1

Bill Gates puts his billions into a ‘charitable trust’ and then takes out insurance and loans against the insurance to avoid/evade taxes. He gets all the money he and his succeeding generations will ever need tax-free.

He’s a hypocrite.


21 posted on 05/02/2016 8:43:26 AM PDT by Hostage (ARTICLE V)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Eric in the Ozarks

Bingo


22 posted on 05/02/2016 8:44:04 AM PDT by BenLurkin (The above is not a statement of fact. It is either satire or opinion. Or both.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: DCBryan1

He really does want to ship America overseas


23 posted on 05/02/2016 8:45:03 AM PDT by xzins ( Free Republic Gives YOU a voice heard around the globe. Support the Freepathon!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DCBryan1

The posts in this thread make me laugh.

The reason we have an elite that can buy the gov’t and create further taxes and regulations for the middle class is due to the low level of cap gain taxes.

Low cap gain taxes is also what creates asset bubbles


24 posted on 05/02/2016 8:45:15 AM PDT by MadIsh32 (In order to be pro-market, sometimes you must be anti-big business)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DCBryan1

Hey, Bill, there’s a line on your tax form that allows you to hand even more money to the government. Use it. Use it every time. Then release your tax forms so we can see you already paying the much higher taxes you advocate.

If you don’t, you’re just like every other liberal who minimizes their costs while advocating everyone else pay even more.

Ball’s in your court, Mr. Gates, put up or SHUT UP!


25 posted on 05/02/2016 8:45:21 AM PDT by kingu (Everything starts with slashing the size and scope of the federal government.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: JEDI4S

You are putting out a false association.

Trump is proposing to tax hedge fund investors who profit from the carry trade in the hundreds of millions every year without paying tax or paying very little tax.

Capital gains are completely different.


26 posted on 05/02/2016 8:47:54 AM PDT by Hostage (ARTICLE V)
[ Post Reply | Private Reply | To 18 | View Replies]

To: DCBryan1

Thar clown couldn’t build a crystal radio, and he wants to shape economic policy?


27 posted on 05/02/2016 8:48:48 AM PDT by Da Coyote
[ Post Reply | Private Reply | To 1 | View Replies]

To: DCBryan1

This just proves you don’t have to be smart to be rich.

If you want less of something, just tax it.


28 posted on 05/02/2016 8:49:24 AM PDT by anoldafvet (they're not immigrants, they're criminal aliens)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DCBryan1

Of course he wants higher taxes; you can’t tax this bastard out of business but higher taxes can put the little people out of business so he can buy them out for .10 cents on the dollar. Scumbag he’s just another scumbag.


29 posted on 05/02/2016 8:50:43 AM PDT by jmaroneps37 (Conservatism is truth. Liberalism is lies.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DCBryan1

I am starting to see people in this thread have no idea how cap gain taxes work at all, since 99.9% of FR will never pay cap gain taxes ever.


30 posted on 05/02/2016 8:52:00 AM PDT by MadIsh32 (In order to be pro-market, sometimes you must be anti-big business)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DCBryan1

Doesn’t trump advocate raising taxes?


31 posted on 05/02/2016 9:02:11 AM PDT by biff
[ Post Reply | Private Reply | To 1 | View Replies]

To: DCBryan1

I detest this evil pr*ck and his crappy software.


32 posted on 05/02/2016 9:03:46 AM PDT by riri (Obama's Amerika--Not a fun place.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DCBryan1

Why in the world would you want to put more $$$$$ into gubmint’s hands?

Hello, anybody starts saying cutting fed/local gubmint 75%, then let’s talk.


33 posted on 05/02/2016 9:05:43 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DCBryan1

Apparently he is a Keynesian. Ignore him as well Keynes. Garbage economics.


34 posted on 05/02/2016 9:05:53 AM PDT by buffaloguy
[ Post Reply | Private Reply | To 1 | View Replies]

To: DCBryan1

A majority of voters probably agrees with him.


35 posted on 05/02/2016 9:06:10 AM PDT by Buckeye McFrog
[ Post Reply | Private Reply | To 1 | View Replies]

To: DCBryan1

My 2c: He was a weasel when he started stealing ideas from the Apple gangs garage, and he is a weasel now.


36 posted on 05/02/2016 9:06:23 AM PDT by Banjoguy
[ Post Reply | Private Reply | To 1 | View Replies]

To: scooby321

The old ‘I got mine, FU’ speech from Bill.


37 posted on 05/02/2016 9:07:57 AM PDT by Lockbox
[ Post Reply | Private Reply | To 3 | View Replies]

To: DCBryan1

I vote for Bill to pay everyone’s capital gains taxes.


38 posted on 05/02/2016 9:09:11 AM PDT by showme_the_Glory ((ILLEGAL: prohibited by law. ALIEN: Owing political allegiance to another country or government))
[ Post Reply | Private Reply | To 1 | View Replies]

To: MadIsh32

What are you talking about? Plenty of us have brokerage accounts and pay taxes on capital gains and dividends every year.


39 posted on 05/02/2016 9:09:29 AM PDT by Cecily
[ Post Reply | Private Reply | To 30 | View Replies]

To: MadIsh32

You do realize that most cap gains are the result of voluntary decisions by asset owners to sell out and not roll over?

Be surprised by how many people have locked up their wealth in assets such as real estate that they will never choose to sell outright because of the present tax bite

However drop my cap gain tax or drop it low enough and I will cash out and pay tax. Keep it high or raise it and I sit on my appreciated real estate, maybe roll it over or borrow against it. But never ever pay Uncle a dime of tax on that locked up wealth.


40 posted on 05/02/2016 9:12:53 AM PDT by silverleaf (Age takes a toll: Please have exact change)
[ Post Reply | Private Reply | To 24 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-76 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson