DFW Dude If Bill Gates paid more than 50% tax we wouldn't have the Bush deficit... Rich people don't pay tax
*Sigh.... had you done as I suggested and looked up Mr. Gates' income, the explanation I am going to give would not be necessary. Bill Gates receives no
sallary from Microsoft. None, zero, zip, zilch. In theory, you and I have a higher salary than Bill Gates.
In an anti-trust ruling, Bill Gates stepped down as CEO of Microsoft and is now a self-appointed "Software Architect" which carriers no real importance and Gates only leverage over Microsoft are his massive stock options. Taxes are based off income, *not* net worth, and because Gates has no income, he doesn't pay income taxes.
The 40 billion dollars in wealth Bill Gates has is mostly in stocks, it isn't real solid money. His net worth fluctuates with the stock value. As with any stock, taxes only have to be paid when the stocks are sold for a profit. If Bill Gates were to cash all of his stocks out, Uncle Sam would get several billion instantly.
This begs the question, if Bill Gates has no salary and no solid money, what does he live off of? Every time Microsoft pays a dividend of say, 10 cents per share, Gates would make 100 million dollars, which like any other mortal being, he would pay taxes on. This is not an income tax however. Also, Gates has in the past sold enormous sums of Microsoft stock, had Gates held on to every single share of stock he began with, he would be worth 370 billion rather than a paltry 40 billion. The money he saved is in accounts so vast they earn annual 30.25%
interest! While these sums of money allow Gates to live very comfortably, they only put him on par with other CEOs in this age.. he pays shareholder taxes on par with theirs.
As for the national debt, if Gates didn't spend a cent of his money accrued from interest, his savings could indeed pay off the national debt. By June 10, 2025 in theory.
Interesting website on this subject-
Which reminds me of reason #14 of "why I'm a liberal" We need to end our addiction to oil
Gah... my disagreement with your philosophies is one thing, but no one will take you seriously when you just spit out incomprehensible blurbs of unintellectual bullsh*t.
Try #14- Pursue alternatives to oil. Reasons- economic stability, political leverage over Middle East, ect.
I have a three post per topic limit. You're welcome to have the last word.