Bill Gates, who routinely ranks as one of the world’s wealthiest people, is echoing Democrats’ calls for higher taxes on the rich
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Pointing to growing income inequality as well as mounting government red ink, the Microsoft co-founder and philanthropist cites a litany of ways the rich ought to be paying more.He endorsed a type of wealth tax, saying he favors “taxing large fortunes that have been held for a long time .
He also called for higher state taxes, including the creation of an income tax in his home state of Washington.Gates rejected the notion that the wealthy could simply volunteer to pay more. “Leaving it up to people to give more than the government asks for is not a scalable solution,” he wrote. “Additional voluntary giving will never raise enough money for everything the government needs to do.”
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