Bill Gates’ New Year’s Wish: Let Me Pay More Taxes with Other Billionaires

BEIJING, March 3 (Xinhua) — Bill Gates, the world’s second-richest man and co-founder of Microsoft, expressed his New Year’s wish in a blog post, hoping that he and other billionaires would pay more in taxes. In a year-end blog post on December 30th, Mr. Gates wrote that U.S. lawmakers should close loopholes and raise the estate tax and capital gains tax to the same rate as the income tax.

Bill Gates' New Year's Wish: Let Me Pay More Taxes on Other Billionaires

He also called on state and local governments to make taxes “fairer” and reiterated his support for state income taxes in Washington, where he lives.

“The work I did paid off disproportionately, and many others worked hard to survive,” Gates wrote. That’s why I’m in favor of a tax system, and if you have more money, you have to pay a higher tax rate. I think the rich should pay more than they do now, including Melinda and me. “

Gates, 64, has a net worth of $113.7 billion, second only to Amazon(1898.01, 50.17, 2.72 percent), according to the Bloomberg Billionaires Index. His fortune has doubled in the past ten years.

At an event last November, Gates expressed reservations about the wealth tax proposed by U.S. presidential candidates Elizabeth Warren and Bernie Sanders. In his blog post, Gates said he would not take a stand on the various proposals debated during the campaign.

“But I believe that we can make our system fairer without sacrificing innovation,” he wrote. Top 1 percent of Americans can pay more in taxes before they stop working or create jobs. When I started Microsoft with Paul Allen in the 1970s, the marginal tax rate was almost twice the top rate today. That doesn’t hurt our drive to build a great company.

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