Tax, Bill Gates and Dynastic Wealth
December 23, 2014
Generally speaking I am of the view that we should tax those things we want less of and not tax those things we want more of.
So, in a perfect world I would eliminate taxes on income, capital and investment returns and tax consumption more heavily. I might even go further and tax certain types of consumption differently (high rates on cigarettes, alcohol and junk food and low rates on hybrid cars and healthy foods).
At his link you may read a critique from Bill Gates on Thomas Piketty’s book on capital. I think Gates makes some great points, including how to avoid dynastic wealth.