Bill Gate's Solution to Income Inequality

[Mister Agenda]

Cons: Well, the problem is that, while in absolute dollars the consumption tax hits the wealthy more, in relative terms it will swallow every cent of the poor's money. Why? Because the poorest Americans save nothing on average, being forced to spend every cent they make to survive. It's this fact that keeps them from having to pay taxes, and this fact that would make a consumption tax on them equal to 100% of their income.

Fuck you, Woodie. Go back to sucking Koch Kock.

Hm. I don't see this quote in the article, which postulates a standard deduction, for example, $30,000 for a family of four, and a progressive rate that starts around 10%. I see some possible pitfalls with the scheme, but over-taxing the poor is easily avoided with a large enough deduction for initiial income.

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The 2 million dollar mansion cited as an example, could be built in another country.

Well, the example is a 2 million dollar wing to add to an existing mansion, but yeah, schemes to avoid the tax would be forthcoming.