Bill Gates billionaire: Tax on the Rich Increase

We just noticed that I was pushing for higher taxes. However, I do not agree with certain proposals that seem to exceed that”, he said.

Microsoft's co-founder called taxes a “important questions”, but did not mention tax proposals during the debate.

His comments, according to Bloomberg, follow a series of proposals for taxing rich people at the state and national level presented this month by Democrat Senator Elizabeth Warren, who envisions an annual tax of 2% on households and businesses worth between $50 billion and $1 billion.

More than $1 billion worth of net will be taxed at 3%, costing about $100 billion to Americans, according to a Bloomberg analysis. The bill, however, does not appear to be heading towards a separate Congress.

Gates is the third richest man in the world with a fortune of $138 billion. In the past, he had demanded tax hikes for the rich to address inequality. He told the Reddit forum that raising taxes on real estate could be an effective tool for increasing revenues and avoiding excessive wealth.

“We become richer as we innovation, but I wonder if we are rich enough to discourage people capable of working”, Gates said.