...but even if what Gates is saying is that he'd pay $100 billion over the course of a lifetime (if he lives to be really, really old) the math still doesn't work. Because the money he has would be growing as well. He'd still be one of the richest men alive.
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Citizen Kane: "You're right, I did lose a million dollars last year. I expect to lose a million dollars this year. I expect to lose a million dollars *next* year. You know, Mr. Thatcher, at the rate of a million dollars a year, I'll have to close this place in... 60 years."
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Gates is like Charles Foster Kane but even more extreme. He could lose $3 billion a year every year for many decades before becoming a mere multi-billionaire.
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But the best comment on all this is from a Tik Tok teen:https://twitter.com/NikkiMcR/status/1175248413346213888 …
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Awww, a mere 7 billion. Or even darn if it ended up at 900 million. I mean, how can someone survive on merely hundreds of millions of dollars.
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do you pay both the mark-to-market capital gains tax AND the wealth tax, or is it one or other?
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He’d also be higher than low double digits since all the other billionaires would be drained at a similar rate.
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Even so, what does he mean by left over? His interest rate on his wealth produces a good portion of the amount coming in from the tax, so what is he really losing except more wealth? He has 106 billion...
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Live on 7 billion? In this economy?
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