Bill Gates Says Wealthy Individuals like Him Should Pay Higher Taxes

In an interview with CNN, Microsoft founder and billionaire Bill Gates said that he should pay more in taxes, and so should other wealthy individuals like him. He noted that he had paid more than taxes than anyone else.

"I've paid more taxes, over $10 billion, than anyone else, but the government should crave the people in my position to pay significantly higher taxes." – Bill Gates

Gates' comment comes hot on the heels of the Donald Trump assistants's tax-cutting bill which was passed final year. The amendments allowed some advantages to super-wealthy individuals and decreases the corporate tax rate from 35 percent to 21 per centum. It as well greatly benefitted companies such as Apple tree, which repatriated millions of dollars during the one-fourth dimension revenue enhancement holiday.

Bill Gates pointed out that wealthy individuals like him will experience huge benefits from the programme. He argued that the tax cut plan volition not assistance America's working and middle class.

Gates said, "It was not a progressive revenue enhancement beak, it was a regressive tax bill. People who are wealthier tended to get dramatically more than benefits than the middle grade or those who are poor, and so it runs counter to the general trend you'd like to see, where the prophylactic net is getting stronger and those at the top are paying higher taxes."

According to Bloomberg's Billionaire index, Bill Gates is the second richest person in the world with a net total worth of about $92 billion. Amazon's Jeff Bezos leads the rich-list with a internet total worth of about $121 billion.

That beingness said, this isn't the first that people have raged against the decision to cutting taxes. Last fall, more than 400 American millionaires and billionaires wrote an open letter to Congress urging non to laissez passer the bill.