On CNN Sunday, Microsoft founder and billionaire Bill Gates ripped apart the Republican tax bill, saying it is “regressive” and boldly insisting that the government should make super-wealthy people like him pay “significantly higher” taxes.
“I need to pay higher taxes,” Gates, a man worth over $90 billion, stated in an interview with CNN’s Fareed Zakaria.
“I’ve paid more taxes, over $10 billion, than anyone else, but the government should require the people in my position to pay significantly higher taxes,” he suggested.
The billionaire then criticized the GOP tax law, which cut taxes for corporations, and he didn’t hold back.
“It was not a progressive tax bill. It was a regressive tax bill,” Gates said, saying that the biggest benefits will be enjoyed by the super-rich, despite the Republicans’ lies that the tax cuts will assist America’s working and middle classes.
“People who are wealthier tended to get dramatically more benefits than the middle class or those who are poor, and so it runs counter to the general trend you’d like to see, where the safety net is getting stronger and those at the top are paying higher taxes,” he explained.
Gates, who has donated more than $40 billion of his personal wealth to charitable causes, also talked about the “rising inequality” in the United States:
“You still have about a sixth of the population living in conditions that should be very disappointing to us, and government policies need to really think, ‘Why aren’t we doing a better job for those people?’” Gates said.