Today on ABC’s This Week, Microsoft founder Bill Gates added his voice to the chorus, scoffing at the idea that the rich would riot over a marginal tax increase. “I just can’t imagine these millionaires
and billionaires going down and barricading the streets because they are going to have to pay 4 or 5 percent more in taxes.
I mean, “it’s going to be rough for them,” he said. “There’s certainly a case to be made that taxes should be more progressive,”.
When asked whether he agrees with the Buffett rule, he noted that the revenues needed cannot be raised completely off the top income bracket but he said, “I’m generally in favor of the idea that the rich should pay somewhat more.”
The majority of millionaires support higher taxes on the wealthy.
Bill Gates holder of the title of World’s Richest Person for fourteen years before shifting his efforts to giving away money for medical research and helping those in need, Sources of wealth Microsoft, his net worth (USD) $56.0 billion, now serves as Chairman of the company he once created and owns eight percent of the common shares of Microsoft.
Gates is known for being the founder of Microsoft, an entrepreneur in the technology field, and being a philanthropist through the Bill and Melinda Gates Foundation
Watch Video of the Full interview:
Source: ABC News This Week
with Christiane Amanpour