The Gates, Buffet Pledge Bears Scrutiny

Betsy Ross August 12, 2010

In the mainstream media this week, there was an article publishing the fact that two of the wealthiest Americans, Bill Gates and Warren Buffet, have been holding luncheons with various members of the upper 10% income earners in order to gently arm wrestle them into pledging to give 50% of their wealth to charitable organizations.

It does seem ironic in this writer's opinion that these two individuals, both of whom have gained their wealth through government contracts and legislative lobbying for "privileges and immunties" not given to the general public for their corporate interests, would be heraleded for such a venture.

Most of their wealth has been gained also by their global interests which have progressively, at least in the instance of Mr. Gates, caused loss of American jobs due to now computerized systems that have replaced American workers, not to mention the outsourcing also that has cost so many Americans their jobs in order to build up profits for their corporate interests.

Interesting also that John Kyl, the junior Senator from Arizona, was quated as stating that "did we really need to raise taxes on individuals that provide jobs."

For whom, Senator? For government employees at the taxpayer's ultimate expense, or from foreign outsourced labor?

Corporations do only pay taxes on their profits, and by hiring more American workers or reinvesting in their businesses it ultimately lowers their tax rates across the board, so am I missing something here?

Perhaps rewinding the intent of the founders for taxation on "property" which is what each and every American corporate interest is, would ultimately be the most beneficial tax system of all.

Simply taxing those corporations on the value of their fixed assets annually and valuations as a "property tax," might be the fairest tax of all.

And taxing those imports, labor included, in order to rebalance the scales and provide more jobs for domestic labor, as opposed to the foreign variety.

http://news.yahoo.com/s/csm/318157