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

[John J. Urbaniak]

You missed the point.  I am quite aware of the difference between capital
gains and ordinary income.

But the ordinary man on the street is not.

If Gates' wealth increases by X in a year and Joe Public earns Y in that same
year, Joe is not going to understand why he has to pay 17% while Gates pays a
whole lot less.

It's a PR thing, hype and maybe even FUD, but what the heck, it will still
make Joe Public madder than hell.

John


Sujal Shah wrote:

> 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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