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ISBN: 9781459400351

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Bill Gates, Pay Your Fair Share of Taxes…Like We Do!

Bill Gates and other wealthy individuals around the world do pay taxes–but usually at rates far below what most taxpayers pay. As Warren Buffet says, his secretary pays a higher tax rate than he does on his multi-million dollar income. And most big corporations have mastered the art of paying next to nothing in taxes.

Many experts and financial journalists dismiss the idea that higher taxes for rich people and large corporations would make a difference to government revenues. Even Bill Gates’s personal fortune wouldn’t make a dent in the huge US government deficit. But Harvard-trained economist and tax expert Brigitte Alepin has a different point of view.

Relying on her in-depth knowledge of tax systems in Canada, the US, France, and elsewhere, Alepin provides a behind-the-scenes explanation of what has happened to create a massive gap in government revenues. Over the last twenty years, large corporations, the super-rich, and private foundations have found many ways and means to avoid being taxed. This black hole in government revenues-found in virtually every country-accounts for trillions of dollars in lost revenue every year. As Alepin demonstrates using data drawn from leading international organizations, those missing trillions would go a long way towards allowing the world’s governments to balance their books.

Collecting taxes from big corporations and the super-rich cannot be done by any one country alone. But with governments of all political stripes facing this common problem, there are concrete steps they can take together to address it. Ensuring that wealthy individuals and corporations pay their fair share in taxes would not result in ruinously high rates. Instead, it would mean that the super-rich and corporations would pay their fair share of taxes at rates that would reflect their true ability to pay.

Brigitte Alepin shows how a fair tax system for Bill Gates and for the world’s richest individuals and corporations can be the answer to the financial crisis the world faces today.

Contributors

Brigitte Alepin

BRIGITTE ALEPIN is a chartered accountant and tax specialist with a Master's Degree in Public Administration from Harvard University. She lectures on taxation and has appeared as an expert witness before parliamentary committees probing public finance. She has been a tax columnist for CA Magazine and the Journal de Montréal. She has written two previous books, one in 2010 which predicted the current fiscal crisis

Chapter Title Abstract Contributors Pages Year Price

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Introduces the reason behind this book and outlines the tax breaks given to the super wealthy and how they can nevigate around the tax regime to their benefit 8 $0.80

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Looks at the history of fiscal crises to analyze how the current situation accounts for an epidemic with new means of communication and globalization. Looks at the ineffectiveness of tax systems … 44 $4.40

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Chapter 2 of this book looks at the detaxation of multinational corporations. Showcases that advocates for this note that it does not adversely affect the country’s public finances, here … 19 $1.90

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Chapter 3 examines tax havens. New means of communication and greater capital mobility help taxpayers easily get around the principle of tax residence by establishing (or pretending to establish) … 24 $2.40

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Chapter 4 delves into electronic commerce. Traditional taxation principles that were devised more than half a century ago were based on a physical world, with tangible goods, and defined places … 11 $1.10

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In Chapter 5, I look at private foundations. Contrary to popular belief, private foundations are not a good deal for public finances in the short or the medium term. A foundation has to spend … 20 $2.00

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Chapter 6 deals specifically with environmental taxation. If major fiscal reforms are to be undertaken to deal with the crisis, this could be a strategic moment to implement a green tax shift. … 28 $2.80

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In Chapter 7, I look at a broader range of tax reform proposals to address the major sources of the tax shortfall. 21 $2.10

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Fiscal Crises Throughout History 4 $0.40

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A rough Estimate of the Fiscal Gap 3 $0.30

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Major Restrictions Imposed on Registered Charities 4 $0.40

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Major Instruments of Green Taxation 6 $0.60