Bill Gates in Trouble for Comments Over Billionaire Tax Plan
By Joe Creason 11/07/2019
Bill Gates has found himself in hot water after comments he made during the New York Times DealBook conference on Wednesday.
“[Over my life] I’ve paid over $10 billion in taxes… I’ve paid more than anyone in taxes. If I had to pay $20 billion, it’s fine” said Gates. “But when you say I should pay $100 billion [over a lifetime], then I’m starting to do a little math over what I have left over.”
The comments were made by the Microsoft founder in light of Senator Elizabeth Warren’s billionaire tax plan, which is a six percent tax on wealth above 10 figures. Gates is the third wealthiest man in the world behind Jeff Bezos and Bernard Arnault, though he would be responsible for paying $6.4 billion in taxes every year in the Senator’s proposal is approved.
“You really want the incentive system to be there, and you can go a long ways without threatening that,” Gates said.
Despite having reservations on the Senator’s tax plan, Gates is still in favor of raising taxes on the ultra wealthy, suggesting a higher estate tax and other revenue generating methods, he says.
Gates was also under fire Wednesday for his reluctance to indicate which way he was going to cast his ballot.
“I’m not going to make political declarations,” Gates said.