Warren Buffet and Bill Gates have been making noises about wanting higher tax rates. In a recent BBC interview Bill Gates said, “Well, the United States has a huge budget deficit, so taxes are going to have to go up. And I certainly agree that they should go up more on the rich than everybody else. That’s just justice. … I hope we can solve that deficit problem with a sense of shared sacrifice where everybody would feel like they’re doing their part, and right now I don’t feel like people like myself are paying as much as we should.
The logic of nearly every phrase of Mr. Gates opinion is corrupt, but rather than a ramble down that path, I have a simple request. Please, Mr. Interviewer (whoever you are), next time ask the obvious question. “Okay. I understand. If you feel that way, why don’t you go ahead and pay what you think you should?”
It’s obvious to anybody listening that they won’t DO what they say because their real issue is about YOU living differently, not themselves. Dear Mr. Gates and Mr. Buffet: “Stop being a hypocrite!” It’s not about where you’re “at in life” or “how rich you are”. Both rich and poor people alike accommodate to tax rates that are levied on them. The real issue is that higher tax rates demotivate people from earning more and prevent people from bettering their position in life. Bluntly, people realize that if so much is taken away in taxes, why bother working harder to get it? A rich person saying “raise taxes on the rich” is really espousing a self-preserving opinion making it harder for others to do what they’ve already done. If you’d like a specific example, do a search for my blog and wiki entry about FAFSA and EFC college costs.
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