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Ross Gerber Says Politicians Are Incompetent And Tax Hikes Won't Fix America's Problems

MarketDash Editorial Team
3 hours ago
Investor Ross Gerber is taking aim at lawmakers who reflexively reach for tax increases to solve every problem. His complaint: the government already has plenty of money, it just can't execute. The debate highlights a growing divide over whether America has a revenue problem or a spending problem.

When politicians face a problem, they often have a favorite solution: raise taxes. And investor Ross Gerber has had enough of it.

"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."

It's a blunt take, but Gerber isn't alone in questioning whether the issue is really about revenue or about how that revenue gets used.

The Execution Problem

Gerber's frustration taps into 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 Rogan questioned 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, injected some humor into the conversation. "It was tax avoidance, not tax evasion," he said. "There's a difference, and the difference is about 18 months in prison."

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.

The Other Side Of The Argument

Not everyone sees it this way. Microsoft (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."

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.

"I've been disproportionately rewarded for the work I've done — while many others who work just as hard struggle to get by," he wrote in a Gates Notes blog post.

Gates argues that the system now rewards wealth over work and risks creating a dynastic class of inherited privilege, instead of one built on effort and innovation.

Where This Leaves Us

With strong voices on both sides, the debate over how to fund government programs fairly and efficiently is far from settled. What is clear is that the frustration with the current system is growing.

The question isn't really whether taxes should be higher or lower. It's whether Americans believe their government can actually deliver value for what it collects. And right now, a lot of people aren't convinced.

Back to Stock Market News

Ross Gerber Says Politicians Are Incompetent And Tax Hikes Won't Fix America's Problems

MarketDash Editorial Team
3 hours ago
Investor Ross Gerber is taking aim at lawmakers who reflexively reach for tax increases to solve every problem. His complaint: the government already has plenty of money, it just can't execute. The debate highlights a growing divide over whether America has a revenue problem or a spending problem.

When politicians face a problem, they often have a favorite solution: raise taxes. And investor Ross Gerber has had enough of it.

"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."

It's a blunt take, but Gerber isn't alone in questioning whether the issue is really about revenue or about how that revenue gets used.

The Execution Problem

Gerber's frustration taps into 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 Rogan questioned 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, injected some humor into the conversation. "It was tax avoidance, not tax evasion," he said. "There's a difference, and the difference is about 18 months in prison."

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.

The Other Side Of The Argument

Not everyone sees it this way. Microsoft (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."

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.

"I've been disproportionately rewarded for the work I've done — while many others who work just as hard struggle to get by," he wrote in a Gates Notes blog post.

Gates argues that the system now rewards wealth over work and risks creating a dynastic class of inherited privilege, instead of one built on effort and innovation.

Where This Leaves Us

With strong voices on both sides, the debate over how to fund government programs fairly and efficiently is far from settled. What is clear is that the frustration with the current system is growing.

The question isn't really whether taxes should be higher or lower. It's whether Americans believe their government can actually deliver value for what it collects. And right now, a lot of people aren't convinced.