Billionaire Bill Gates has long been a supporter of philanthropy. He also has been a long-time Democrat supporter. But today he is panning Lying Lizzie’s wealth tax ideas. He has gone so far as to not rule out voting for President Trump in 2020.
He would condition his support on a change to being a more “professional” candidate.
How much is too much
During a New York Times conference discussing a possible wealth tax Gates said, “If I had to pay $20 billion, it’s fine… But when you say I should pay $100 billion, then I’m starting to do a little math about what I have left over.”
Gates’s comment came after Fauxcahontas said she would double her billionaire wealth tax. Lieawatha would do so to pay for her “Medicare for All” proposal. She is good with increasing the number to 6% from 3% on wealth over 10 figures. Her tax would also impose a 2% tax on income over $50 million.
Much of the revenue would go to pay down her climate change agenda. Warren’s willingness to stiff billionaires seemed a bit too much for Gates to swallow. Why should the federal government not be content with a percentage of income?
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Why is it reasonable for the federal government to take assets after you’ve already paid taxes on them? If the federal government starts taxing private property in addition to income, that is what a wealth tax does, does that not hurt the municipal, county and state ability to raise money? Once implemented where will it stop? What happened when we changed the constitution to allow an income tax?
Gates said, “I’m not going to make political declarations… But I do think no matter what policy somebody has in mind […] whoever I decide will have the more professional approach in the current situation, probably is the thing I will weigh the most… And I hope that the more professional candidate is an electable candidate.”
Gates also scrutinized the Massachusetts senator’s stridency saying, “I’m not sure how open-minded she is, or that she’d even be willing to sit down with somebody who has large amounts of money.” Would You Listen if Bill Gates Called?