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What's very cool about the two richest people on Earth, Bill Gates and Jeff Bezos, is that they both made their fortunes in Washington State, the state with the most regressive tax policy in the country, with a whooping 0% income tax and 0% capital gains tax.
Washington gets its revenue from flat sales taxes, and since it's impossible to spend anything but a small fraction of their inconceivable wealth on consumer goods, they've probably paid a lower percentage of their income to state taxes than basically anyone else in the country.
It's almost like low tax rates spur innovation!
imagine innovating a mail order catalog.. whoever does that should be king of the world probably. My brain is huge
damn i'd say it makes you think but who am i kidding? none of us can think anymore
Yet Microsoft, Amazon & their employees have spent vast sums taxable in Wash. Gates & Bezos too in terms of their homes, properties, etc, all taxable at state or local level. Not saying the tax policy is right. But saying their wealth has not benefited Wash greatly is wrong.
Taxing spends and taxing incomes are different.
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