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

[John J. Urbaniak]

Paul Rickard wrote:

> ========== On 2002.01.07 05:19 PM, Sujal Shah typed: ============
>
> >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.
>
>     Gates only gets paid several hundred thousand dollars per year, stock
> options notwithstanding. The options and his original stake as company
> founder are where the cash comes from - and he only sells a small bit
> each year so the taxes won't ride up on him.

Well, based on your figures, my estimate of 1% was way too high.  I bet Gates
hasn't paid one-tenth of one percent of his wealth increase in any given
year.

Tell that to the poor grunt who goes to work every day and sees 17-20%
deducted from his paycheck.  My poor dad comes to mind.  He was crippled and
deaf, got shot up in the war, yet every morning, hot or cold, rain or clear,
he struggled up the hill to catch the streetcar to get to work at 6:00am.
His "deducts" for Federal taxes were about 15%.

Nobody begrudges Gates his fortune.  But if he ain't paying his "fair share"
of taxes, that's another story...

John


>
>
> ======== Paul Rickard, Editor of The Microsoft Boycott Campaign =======
> --------------------------------[ Http://www.msboycott.com ]-----------
>
>   "Even as a longtime critic of the company, I must admit that
>    Microsoft occasionally flirts with the truth. Well, perhaps 'flirt'
>    is too strong a word. Let's just say Microsoft sometimes honks and
>    waves as it drives by her house."
>        -InfoWorld Editor Nicholas Petreley, 06-14-99
>
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