Bill Gates advocates a "more progressive" tax policy for the rich, but he believes that high-income proposals, such as those proposed by Liberian MP Alexandre Ocasio-Cortez (DN.Y.), miss the mark ,
Instead, he said lawmakers should focus on things like inheritance, capital, and social security. His view could be more closely aligned with Sen. Elizabeth Warren's proposed tax policy, which focuses on taxing household net worth worth more than $ 50 million.
"Now you finally have some politicians who are so extreme that I would say," No, that goes further. "They are beginning to create tax evasion and aversions and to create an incentive that incurs income in others Gates, an obvious reference to Ocasio-Cortez. "We can be more progressive without really threatening income generation – what you have left to decide how to spread around."
Gates, who decades ago had the title of the world's richest man before and behind him, before Amazon CEO Jeff Bezos left his seat last year also tore open the increasingly popular modern monetary theory.
The school of thought has received support on the left from politicians such as Ocasio-Cortez and their Democrat-Socialist Senate Bernie Sanders, who is likely to run for 2020. President Donald Trump has voiced his views as well. "Firstly, you never have to default because you print the money, I hate to tell you, so there is never a default on payments," he said during his election campaign in 2016.
MMT has been concerned about sovereign debt since back to the countries that print their printing house The currency can not really run out of money.
"This is a crazy conversation," Gates said to The Verge.
Listen to the full interview at The Verge.
at CNBC on YouTube.
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