[Am-info] The Register/How MS tax policy saves Gates millions - Nader

[Sujal Shah]

On Mon, 2002-01-07 at 17:14, John J. Urbaniak wrote:
> That's nice, but I say "It's about time, Ralph."
[SNIP]
> 
> I bet dollars to doughnuts that Gates NEVER paid more than a few million
> in Fed taxes - probably less than 1% of his accumulated wealth each
> year.
> 
> So we ordinary grunts pay 17% while the richest man on the planet pays
> less than 1%?

That's not actually even remotely realistic, John.  Come on.

While I'm sure he has many loopholes (the Gates foundation, for
example), your estimate of how much tax he should pay is complete
hand-waving...

Start with this simple point:  just because he's worth 50 billion
doesn't mean he has 50 billion in his bank accounts, or generated 50
billion in *income*.  A lot of his worth is tied up in stocks, chunks of
it MSFT, chunks of it as other stuff however he diversified over the
years.

I'm sure he has underpaid according to your 17% number, but at least try
to do some believable hand-waving to conjure up your numbers.

Sujal


> 
> Nice.
> 
> John
> 
> 
> Mark Hinds wrote:
> 
> > Yet another scam:
> >
> > http://www.theregister.co.uk/content/4/23573.html
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