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Bill Gates thinks the super-wealthy should pay more tax – and plenty of rich people agree (www.businessinsider.com)

submitted 2 years ago by MicroWave@lemmy.world to c/news@lemmy.world

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Bill Gates wants ultra-wealthy individuals to pay more tax — and now a growing chorus of billionaires agree.

In his annual "Ask Me Anything" forum on Reddit last year, the Microsoft cofounder said he was "surprised" that taxes for the rich haven't been increased more.

Gates doubled down on his calls to tax the rich in a panel at the World Economic Forum in Davos this week. He said the wealthiest nations should donate more money to developing countries to help redress inequality.

"Those who have the most — whether it's countries, companies, or individuals — should be pushed to be more generous," he said.

It seems others agree, as more than 250 ultra-wealthy people signed an open letter calling for global leaders to impose a wealth tax.

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[–] ChonkyOwlbear@lemmy.world 11 points 2 years ago (3 children)

You can voluntarily overpay taxes. Put your money where your mouth is Bill.

[–] PugJesus@kbin.social 23 points 2 years ago

There are some rich people who recognize that higher taxes are actually good for them in the long-term by increasing growth and decreasing income inequality (which in the long-term, leads to rolling heads). But it's a Prisoner's Dilemma style situation - if they, as individuals, donate additional wealth to the government, nothing happens except that their own wealth makes a tiny little drip in the ocean, and their competitors then benefit at no cost to themselves. But if the government imposes a uniform levy on them all, then the cost and the benefits are evenly applied, instead of one 'suffering' (and I use the term very loosely) and the others slightly benefiting.

My point here isn't to lionize them, because ultimately most of them are voicing this opinion out of personal interest, not morality. But it is probably a sincerely held personal interest, rather than pantomime.

[–] LufyCZ@lemmy.world 4 points 2 years ago

Honestly, if you have the option, it's a pretty simple choice - put it into a charity you know will help people or overpay taxes and watch the money be guzzled by the military.

[–] GladiusB@lemmy.world 2 points 2 years ago (1 children)

I don't understand this comment. It's some psuedo-leftist aggression. How can you pay extra taxes? Just not file and get a return? I have filed my own taxes for 20 years and never seen "do you want to pay more?" Other than contributing to the Presidental fund. The only thing I can come up with is not filing after already paying. That's tax evasion.

[–] Kid_Thunder@kbin.social 8 points 2 years ago (1 children)

You give a contribution to the Treasury Department under their Gifts to Reduce Debt Held by the Public program. In 2022, this amounted to just $180,310.32.

While you can argue that "that isn't taxes though!", it is essentially accomplishing the same thing but obviously not taxes because a donation isn't a 'tax'. With ~$180,000 from 2022, it is clear this is more bullshit than meaningful intent.

[–] GladiusB@lemmy.world 1 points 2 years ago

Well it isn't the same thing and not what my point is, but good to know. I appreciate the comment. However I was asking what the mechanism in paying taxes was to pay more. This is not that.