Bill Gates advocates global tax on U.S. and others

On Thursday, as part of the G20 summit, Bill Gates, former Microsoft CEO and chairman, multi-billionaire, delivered a report on “financing for development” that proposes global taxes on America and other “rich” nations to make the Global Poverty Act a reality.

First billionaire Warren Buffet and now Bill Gates advocate increased taxes – hey Bill and Warren, you guys first!


The report, available on the website of the Gates Foundation, proposes a financial transaction tax (FTT) as well as taxes on tobacco, aviation and bunker fuel, and carbon (energy), by G20 countries and other members of the European Union.

On Wednesday, as part of the coordinated campaign to pass such a tax in the U.S., Democratic Senator Tom Harkin (Iowa) and Democratic Rep. Peter DeFazio (Oregon) introduced legislation to put a tax on “certain trading activities undertaken by banking and financial firms.” What they didn’t say was that it would affect stocks and bonds bought and sold by the average American investor.


The proposal, the Tobin Tax, named after a Yale University economist, is very popular at the United Nations and has been advocated for years by Fidel Castro as a means by which to siphon funds from capitalist Western nations.

 “Bill Gates Backs a Robin Hood Tax” is the title of a video being distributed by the BBC. It is called the “Robin Hood tax” because it is supposedly designed to take from the rich to give to the poor.

In reality, the tax will affect all middle class Americans who are invested in pension and mutual funds, whenever stocks are purchased or sold by those entities, thus reducing Americans investment in their own retirement funds.