Bill Gates is revealing his plans for the $200 billion he intends to give away through his foundation over the next 20 years, vowing that much of the money will go to Africa.
Gates, who earlier this month told “CBS Mornings” about his plans to donate the bulk of his fortune, disclosed his intentions to focus on Africa on Monday while speaking at Nelson Mandela Hall at the African Union in Addis Ababa, Ethiopia.
Gates had previously said his goal was to fund causes that would help save and improve lives around the globe.
It shouldn’t be his money to spend; it’s been skimmed from all the people he has underpaid and the taxes that he’s avoided for decades.
Billionaires shouldn’t exist, even ones with good PR like Gates.
That $200b definitely wasn’t generated by underpaying employees and avoiding taxes.
Oh yeah, I forgot to add monopolistic practices that prevented people from effectively operating competing businesses.
That should about cover it.
That’s still not where the $200b came from.
Please enlighten me on how he could have acquired $200 billion dollars if he had paid his fair share in taxes, fairly compensated his labor, and refrained from monopolistic business practices.
As a reminder, the tax rate for the wealthy during the highest period of economic growth was as high as 91%, whereas Gates has never paid more than 40%.
How do you think his stocks were juiced if not for the aforementioned monopolistic business practices? What kind of capital gains taxes did he pay on those compared to what labor pays on their income? Why should he pay at a lower rate than people who work for a living instead of holding onto wealth?
But perhaps you misunderstand my point: a healthy society would not allow this kind of wealth disparity, as it is inherently destabilizing.