with eyes open wide
Good stuff on Bill Gates’ blog. I’m not 100% a fan of every single thing he does or believes in, but I like his viewpoints about inequality in this article (linked below). He basically reviews Thomas Picketty’s book “Capital in the Twenty-First Century”, agreeing with some things and disagreeing with others.
Interesting read, especially since Bill Gates takes more of a broad look at wealth and how different wealthy persons choose to spend, save or distribute their money. This definitely should be taken into account, as Gates explains here:
“But rather than move to a progressive tax on capital, as Piketty would like, I think we’d be best off with a progressive tax on consumption. Think about the three wealthy people I described earlier: One investing in companies, one in philanthropy, and one in a lavish lifestyle. There’s nothing wrong with the last guy, but I think he should pay more taxes than the others.”