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Bill Gates, the founder of Microsoft, said that Warren's "wealth tax" had gone too far, and it was a shock to the proposal. I've paid more than $1 billion in taxes, much more tax than anyone, but I'd be happy to do it if you have to pay $2 billion. But when you said I should pay $10 billion, I'd start to do the math, and see how much I could have left, "said Bill Gates." For Bill Gates, The low-income group in the United States may not be paying. An up-to-date figure shows that in 2018,400 of the wealthiest Americans have a total tax rate For the first time since the history of any other income group. Warren's "the rich's tax", like a fuse, has again led to a debate on the fairness of the tax system in the United States.
Ten years ago, the stock god, warren buffett, made a statement saying that his tax rate was lower than his secretary. This is due to the federal government's tax rate on investment income, which is lower than the wage-income tax rate imposed on many Americans. At present, the highest legal tax rate of American investment income is 23.8%, and the highest legal tax rate of the wage income is 43.4%. Since a large part of Mr. Buffett's income comes from investment, a billionaire like Warren Buffett has a lower tax rate than millions of Americans. Ironically, when this happens, the income gap between the rich and the ordinary people in the United States is more It's a big time in the past. According to the survey released by the Census Bureau, the U.S. income gap widened further in 2018, with the Gini coefficient reaching a 50-year high. According to the estimates by the economist at the University of California, Berkeley, and the two men of Gabriel Zoukman, over the past 30 years in the late 1970s and 2016, the richest 1 per cent of the United States had a three-fold increase in the share of wealth, rising from 7 per cent to 20 per cent, At the same time,90 per cent of the bottom-level wealth fell from 35 per cent to 25 percent.
Seth and Zuckerman described the history of American tax as a struggle between the people who want to tax the rich and those who want to protect the wealth of the rich. In the middle of the 20th century, high-rate advocates have the upper hand, but most of the time in the second half of the 20th century is the victory of the low-tax party. When Warren offered to tax the rich, she received support from a large number of low-income voters. In Warren's calculator, the world's first-richest, Bezos, needs to pay $66.97 billion a year, and Facebook's chief executive, Mark Zuckerberg, will pay $42.49 billion. Bill Gates's assets are calculated at $7.7 billion, He will pay $63.79 million.
Recently, the super-rich in the United States are on pins and needles. Their wealth is likely to shrink sharply and their position in the global list of billionaires is in jeopardy. What panicked them was Elizabeth Warren, the Democratic presidential candidate, for taxing the rich. According to Warren's advice, households with assets of more than $50 million will have to pay 2 percent a year, while households with more than $1 billion will have to pay 3 percent. Not long ago, Warren increased the wealth tax, suggesting that the tax rate on the super-rich be raised from 3% to 6%.
The Fed's recent study also shows that, over the past 30 years, the richest 1 per cent of the United States' wealth has grown by $21 trillion, while 50 per cent of the wealth of the United States' wealth pyramid has fallen by $90 billion. Analysts believe that the U.S. government's tax cuts have cut the most high-income tax rate, making the gap between the rich and the poor in the United States further expanded. It was another scene in the 1950s and the 1960s. When the economy was booming, the wealthiest Americans paid 91 per cent of the highest income tax. Today, the highest tax rate is only 43.4 per cent. The lower the U.S. tax rate is The main reason is that its tax system has radically reduced the progressivity. It is reported that the tax rate of federal income tax is designed to be progressive and the tax rate is gradually increased with the increase of income, which can help to narrow the income gap. The system has been heavily eroded over the past few decades, and many of the millionaires and billionaires have paid less tax rates than ordinary families in the United States.
America's rich can no longer stand idly by when they see estimated shrinking wealth, with many bluntly critical of Warren's tax policy. Gates, who had supported taxing the rich, also changed his attitude, noting that a "rich tax" would undermine social incentives and backfire to economic development. Charles Schwab, chairman and CEO of Jiaxin Financial, the largest online brokerage in the United States, said Warren's "wealth tax" would deprive the rich of their incentive to create wealth. "I started from scratch because I had enough incentives to create what we created," he said in a television interview. Wall Street bosses. The U.S. hedge-fund giant, the billionaire Leon Cooper, has publicly said that if Elizabeth Warren is elected president, then the market will fall by 25%. "
