Saturday, November 30, 2013

Guilt And Taxes

Letter from Guilt-Ridden Billionaire: Tax Me More! (Video) | Progressive Populist:
...Bill Gross is a billionaire financial manager and the co-founder of Pacific Investment Management (PIMCO), a global investment firm. Gross is also an author who writes articles for PIMCO’s website.

This month, he authored a letter in which he acknowledged that much of his success and wealth can be attributed in part to being born at the right time, a time of a credit boom and low tax rates for the wealthy. He also acknowledged that he made his fortune at the expense of labor and believes that our tax system should be overhauled, with a higher tax rate implemented on capital along with a more favorable climate for economic growth and labor.

Gross feels guilty and feels sorry for those who are less well-off than he is, and that prompted him to write this letter, most of which is shown below. For further reading, check out his blog article in full on the PIMCO website...

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