2007-02-10 07:22:55 · 9 answers · asked by lionheart031171 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
that's why you have to pay more because Gates is not paying enough
2007-02-10 07:34:22 · answer #1 · answered by sammy 5 · 0⤊ 0⤋
Statistically the top 10% of wage earners pay 70% of the total taxes in the US....So mathematically the middle class don;t actually pay for everything...
A better question would be why the majority of tax money that is paid out to individuals is paid to those unemploed and not contributing...
2007-02-10 15:41:20 · answer #2 · answered by Anonymous · 0⤊ 0⤋
How did you know he's only paid 10% income taxes. Even if he does: 10% of 78 billion still a 7.8 billion dollars, that's a lot. Also
he's a Microsoft chairman with stock holder. The remainder of that taxes will be filed under Microsoft business incomes.
2007-02-14 02:27:24 · answer #3 · answered by MINH H 3 · 0⤊ 0⤋
Because of his wealth, Bill has many attornies working to advise him on how to keep his taxes low. Perhaps you've noticed that he set up the Bill and Melinda Gates Foundation and donating hundreds of millions of dollars that free him of taxes. I would not be surprised if he also purchased tax-free financial instruments. The strategies keep his taxes lower (but not low).
2007-02-10 15:33:44 · answer #4 · answered by Puzzleman 5 · 0⤊ 0⤋
Bill Gates doesn't pay 10% in taxes. He pays 39.6% on his salary (the top marginal rate) and 15% on capital gains (just like every other American.
2007-02-10 15:27:41 · answer #5 · answered by Box815 3 · 0⤊ 0⤋
Where do you get the idea that he only pays 10% in taxes?
You should keep in mind that he had given away nearly half of all the money he ever made -- much of it not deductibile due to his income -- and is STILL the richest person in the world.
2007-02-10 15:31:58 · answer #6 · answered by Bostonian In MO 7 · 0⤊ 0⤋
99% of taxes are paid by 1% of rich!.
and
1% of taxes are paid by rest of the 99%!
The stats are amazing similar to the above.
Let us have a simple FLAT tax per person per year!. So, everybody shares the burden equally and Bill Gates can get away with piddly 0.000000000001 % of taxes
2007-02-10 15:46:45 · answer #7 · answered by weight-loss 2 · 0⤊ 0⤋
Bill Gates also gives $billions a year to charity, which is deductible.
When you start giving that much, we'll compare you average tax rate to his.
2007-02-10 15:41:56 · answer #8 · answered by Quixotic 3 · 0⤊ 0⤋
Are you kidding.. Taxes take about 45% of my paychecks.
2007-02-10 15:26:28 · answer #9 · answered by E 5 · 0⤊ 0⤋