Ross Gerber Slams Politicians For Pushing Higher Taxes As The 'Solution For Every Issue,' Calls Them The Most 'Incompetent Group' In Society
Investor Ross Gerber is criticizing lawmakers for what he sees as a lazy and ineffective approach to solving the nation's problems: raising taxes.
“Why do politicians think the solution for every issue is more taxes. Meanwhile they are the most inept, incompetent group in our society,” the CEO of Gerber Kawasaki Wealth and Investment Management wrote last week on X. “They have plenty of money to solve every problem in the world and simply can’t execute solutions.”
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Criticism Of Government Spending And Taxation Is Growing
Gerber's frustration mirrors a wider skepticism about whether higher taxes actually result in better outcomes. On a May episode of “The Joe Rogan Experience,” comedian and podcaster Joe Roganquestioned the idea that taxing the rich will help the average person. “Are the poor people going to get that money? No. Are their services going to improve? No, you’re just going to get more government,” he said.
Speaking with comedian Jimmy Carr, Rogan added that the real issue is waste, not a lack of revenue. “Figure out what to do with the money they already get from everybody,” he said. “And you’re not doing a good job with it. That’s the problem.”
Carr, who has dealt with his own tax controversy in the UK, added some levity. “It was tax avoidance, not tax evasion,” he said. “There’s a difference, and the difference is about 18 months in prison.”
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Rogan acknowledged that some high-tax countries, like Norway and Denmark, provide meaningful services in return. But he said that approach doesn't work at scale. “When you scale that to like hundreds of millions of people, things get really weird,” Rogan said.
Taxing the Wealthy
Meanwhile, others see taxes on the rich as a moral and economic necessity. Microsoft (NASDAQ:MSFT) co-founder Bill Gates has repeatedly said that he should be paying more.
“I am surprised taxes have not been increased more,” Gates said during a 2023 “Ask Me Anything” session on Reddit. “For example, capital gains rates could be the same as ordinary income rates.”
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Gates has laid out several proposals to raise taxes on the ultrawealthy, including removing the cap on income subject to Medicare tax, closing the carried-interest loophole, and taxing long-held large fortunes.
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