Additional Coverage:
- Bill Gates says the rich would be a lot poorer if he set taxes — but banning billionaires isn’t on his agenda (newsbreak.com)
Bill Gates’ Tax Proposal: Wealthy Would Be Significantly Poorer
Bill Gates believes that the wealthy should pay more in taxes. He estimates that under his ideal tax system, the wealthiest individuals would have approximately a third of their current wealth.
Gates Would Not Outlaw Billionaires
Despite his belief in higher taxes, Gates does not support outlawing billionaires. He acknowledges that vast wealth exists, but he believes it should be shared with society rather than consumed by individuals.
Bernie Sanders Calls for Banning Billionaires
Senator Bernie Sanders disagrees with Gates on this point. Sanders believes that billionaires should not exist and advocates for abolishing their wealth.
Gates Advocates for Social Safety Net
Gates argues that higher taxes would help fund a better social safety net in the United States. He supports universal healthcare, quality housing, and education for all.
Cuban Defends Billionaires
Mark Cuban, of "Shark Tank" fame, believes that billionaires represent the American Dream. He contends that accumulating wealth is patriotic and should be rewarded with high taxes.