Bulldog Mindset
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Why You Shouldn't Trust Billionaires When It Comes To Taxes
Posted
November 29, 2016
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November 29, 2016
4,741
192
83
5.80%
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Why Is The Leap From Middle To Upper Class So Difficult?
Why You Shouldn't Trust Billionaires When It Comes To Taxes
You've probably seen a lot of different billionaires talking about the importance of raising taxes, right?
Here is what Bill Gates said recently at an interview:
"The highest economic growth decade was the 1960s. Income tax rates were 90 percent," he said on CNN's Fareed Zakaria GPS May 17, 2015. "I mean, the idea that there's some direct connection that all these innovators are on strike because tax rates are at 35 percent on corporations, that's just such nonsense."
"Gates was making the point that low tax rates do not necessarily lead to economic prosperity. To do so, he mentioned a time when high growth and high marginal tax rates co-existed. Marginal tax rates are tax rates applied to each bracket of income. The more money people make, the higher their marginal tax rates, and the people with the highest income pay the top rate. "
So, what is REALLY behind all of this? Do billionaires really believe in high taxes?
Watch this video and find out!
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Related Topics: election 2016, hillary clinton, economics, taxes, news
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