Bill Gates’ opinion on the super rich: they should exist, but pay more taxes

Everything Bill Gates does or says is going to be in the public interest, more if it touches sensitive fibers of those sectors such as those that he himself represents. He let it be seen this week during his annual session ‘Ask Me Anything’ (AMA, from Reddit)where he answered a series of questions about the ethics of being a billionaire and whether it should be considered acceptable for a single person to possess so much power.

In this context, the billionaire, who has twice been to the top of the list of the richest people of the world, pointed out that super rich people had to pay higher and higher taxesdonate all his wealth (referring to follow his model), but he emphasized that no one should miss the opportunity to become a billionaire.

“I think the incentive to start new businesses is still a good thing. Even if they raise taxes, I wouldn’t forbid someone to be worth a billionbut that’s just an opinion. I’ve been very lucky,” he noted in the AMA and picked up Fortune.

billion dollar philanthropy

While he supported the idea of ​​super-rich people paying more in taxes, Gates championed what the private sector and personal financial motivations could achieve as the world prepares to face its “existential” challenges.

Along these lines, the Gates Foundation and his various private companies focus on propose solutions to climate changeeducational gaps and lack of access to health care.

It is from them that the tycoon promotes and promotes a model for the billion dollar philanthropyalthough he does not believe that this is enough to address the biggest threats in the world, which will be achieved, as stated in his annual end-of-year letter, with free markets under the protection of governments.

Control with higher taxes

While Gates defended corporations and the pursuit of wealth, he said in the Reddit AMA session that billionaires could “bear” being kept in check by higher taxesadding that he was “surprised” that taxes have not increased more while acknowledging that “things are hard” for a lot of people.

“I’m surprised taxes haven’t been increased more. For example, capital gains rates could be the same as ordinary income rates. I know things are hard for a lot of people,” she wrote.

‘Giving Pledge’ or commitment to give

Gates announced last year that plans to leave virtually all of his estate to his foundationin order to eventually remove himself from the list of the richest people.

In 2010, Gates started Giving Pledge with his now ex-wife Melinda French Gates and with Warren Buffett. The pledge, which began with 40 participants, asks the billionaires who sign it to publicly pledge to give the majority of their wealth to philanthropyeither during their lifetime or in their wills.” As of June 2022, the project has received 236 commitments from 28 countries.

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Bill Gates’ opinion on the super rich: they should exist, but pay more taxes