NewsPolitics

Bill Gates Speaks Out Against Elizabeth Warren’s “Wealth Tax”

Bill Gates is just one of the latest members of the top .1% to speak out against Elizabeth Warren’s candidacy for president, and he did not tip-toe around the subject matter.

“I’ve paid over $10 billion in taxes,” he said On Wednesday at the New York Times DealBook Conference. “I’ve paid more than anyone in taxes, but I’m glad to. If I’d 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.”

While most of us can’t even fathom what a billion dollars looks like, it seems reasonable that folks like Gates would not be excited about a Warren presidency.

Warren’s wealth tax is a proposed 2% annual levy on household wealth above $50 million and an additional 1% tax on wealth above $1 billion. It would affect about 75,000 households and raise between $2.6 trillion to $2.75 trillion over a decade, the Wall Street Journal reported.

This isn’t income, this is wealth. Warren wants to force people to give money to the government simply for having a lot of it.

“I’m not sure how open minded she is or that she’d be willing to sit down with someone who has large amounts of money,” he went on to say.

Of course, when the subject is taking someone’s money, Warren could not be more excited to have a pow wow.

“I’m always happy to meet with people, even if we have different views,” Warren tweeted. ” @BillGates, if we get the chance, I’d love to explain exactly how much you’d pay under my wealth tax. (I promise it’s not $100 billion.)”

Oh, goody. I’m sure Bill Gates can’t wait to sit down and talk about how much money he’d be losing if she won. Surely, that will get him to vote for her.

Warren is exceptionally popular with the poor, and young people, because they will get to be on the receiving end of her policies. It’s easy to appeal to people who don’t pay taxes (or are on some sort of government program), but these policies don’t incentivize success.

“You really want the incentive system to be there and you can go a long ways without threatening that,” Gates said.