What I’m thinking about this New Year’s Eve
As the year comes to an end, I reflect on how we can make our tax system more fair.
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G.G.
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Dec 31, 2019 02:47AM
Maybe ... you have to face a system inspired by H.D. Thoreau. It is fast and easy. Ohhh, my dumb sweet dreams ... what am I going to do with them?
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Should government spending not be addressed before we go hiking taxes?
A fair tax system will have to continuously adapt to the economic reality. Because economy is more like a norm that an exact science we should go about adjusting it each year.
Well, what is preventing you from writing a check to the IRS?
João wrote: "Well, what is preventing you from writing a check to the IRS?"He actually explains it on paragraph 18 :
When I say the government needs to raise more money, some people ask why Melinda and I don’t voluntarily pay more in taxes than the law requires. The answer is that simply leaving it up to people to give more than the government asks for is not a scalable solution. People pay taxes as an obligation of law and citizenship, not out of charity. Additional voluntary giving will never raise enough money for everything the government needs to do. If Melinda and I signed over our foundation’s entire endowment to the state of California, it wouldn’t be enough to fund their public schools for even one year. A vibrant economic system depends on setting expectations for who pays how much.
That's a weak argument. "I will not do it voluntarily but I will do it if I'm forced to - together with everybody else". Furthermore, I agree with Pedro A Guerios, government spending must be addressed before hiking taxes - what does Bill Gates think that the "government needs to do"? In my opinion, the less the government does, the better. Finally, why would anybody believe that government will spend other's people money better than the people who earned the money themselves? Who would Bill Gates trust better to spend his hard earned money: the Bill Gates Foundation or the Government?
"T" words: Taxes and Triage....When a system NEEDS fixing ...
João wrote: "Well, what is preventing you from writing a check to the IRS?"It is fair to distribute tax collection, and I love the ways Bill suggests to do that more equitably. In terms of "writing a check," it would make far more sense for Bill and others to directly support causes they believe in, as Bill and many of us already do. A lot of our taxes go toward killing people and making weapons. I for one would not want to contribute any extra for expenditures like that. I bet Bill feels similarly.
Closing loopholes and taxing investments at the same rate of labor are great ideas and would do a lot to reduce the tax burden on those who only make income from labor and not investments. This was a great read.
A flat tax rate combined with a national sales tax would be the fairest way to go. A flat tax rate would eliminate all loopholes for the rich so they actually pay taxes. A national sales tax would affect everyone, including those that make their money through illegal means. Everyone buys things. If it’s a more expensive car then they pay a larger proportional share of tax.
Sir , you siad *fair". Can you please elaborate on that?
Ady wrote: "Closing loopholes and taxing investments at the same rate of labor are great ideas and would do a lot to reduce the tax burden on those who only make income from labor and not investments. This was..."Agreed!
This is all referencing $$$ $$$$ $$$$$$....Cooperation and Consideration could help. Re the Amish and societies that still barter and bake😅
Most of our thoughts are still in "little boxes made of ticky tacky"
(confession, mine was too and I am still struggling. Currencies are the normal exchange. So ... explain: how and why does a baby get born and grow up?)
TAXES?
It's nice to know that there is at least one rich person willing to pay higher taxes for the greater good of the country instead of thinking because they are rich they deserve tax breaks, like they need the breaks! I respect Bill Gates for not letting money corrupt him.
Thank you for sharing the insightful and specific ideas. How do we make it happen?
thank you mr. bill gates you are my favorite. god bless
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