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The Gist

Steve Bullock's Blue-Collar Candidacy

The Gist

Peach Fish Productions

News, Daily News

4.53.7K Ratings

🗓️ 8 November 2019

⏱️ 33 minutes

🧾️ Download transcript

Summary

On The Gist, taxing Bill Gates. In the interview, Gov. Steve Bullock of Montana is here to talk with Mike about his run for the Democratic nomination. They discuss how Bullock's work on campaign finance reform in Montana, how he alters his message for local and national audiences, and what he thinks of the penny. In the Spiel, Pete Buttigieg's lack of experience. Slate Plus members get bonus segments and ad-free podcast feeds. Sign up now. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

This show may contain words that would offend the sensibility of certain habituaries of monasteries.

0:12.3

Thursday, November 7th, 2019, from Slated's The Gest I, Mike Pasca today, Bill Gates,

0:18.7

in a chat with the New York Times' Ziz Andrew Ross Sorkin, made the ultimate humble brag.

0:25.2

I've paid over 10 billion in taxes. I've paid more than anyone in taxes.

0:34.1

The crowd's laughing, but it's true. Gates wasn't playing this for laughs. The disclosure

0:39.1

was an answer to Sorkin's question about Elizabeth Warren's wealth tax, Gates continued.

0:45.5

If I'd had to pay 20 billion, it's fine. But when you say I should pay 100 billion,

0:52.1

okay, then I'm starting to do a little math about what I have left over. Sorry, I'm just kidding.

0:59.0

Only kidding, not kidding. Andrew Ross Sorkin, by the way, is co-creator of the TV show Billions.

1:06.0

So he knew what he was getting at. The Warren tax could add up to $100 billion. Though Warren

1:14.0

tweeted to Bill Gates later, quote, I promise it's not $100 billion. Well, how could you make that promise?

1:22.6

One way is for the plan to be pretend all along. Maybe she's just acknowledging the plan won't

1:28.5

actually go into effect. She hasn't really planned to implement it. She's figuring Congress won't

1:33.5

pass it. Maybe she figures the courts will find it unconstitutional. But if none of those things

1:38.7

are what she's saying, if you just do the math, it seems like it could be $100 billion. Here's the

1:42.4

math. The plan taxes the wealth of billionaires at 6%. It starts off a little lower for the 50

1:49.4

millionaires once you get to a billion. It's 6%. Gates has almost $100 billion. I don't know.

1:55.0

From the time I started this sentence to now, maybe has over $100 billion. So if you calculate 6%

2:01.9

depreciation a year, which is sort of the opposite of compound interest. And if Bill Gates lives to be

2:06.8

93, which is an age I chose because that is the age of Bill Gates senior now who's still kicking

2:12.2

around, then Bill Gates will love surrender $88 billion to the federal government. Now, when I posted

2:17.9

this calculation on Twitter, I got a variety of responses. Everyone's upset with me. Many said,

...

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