Bill Gates Calls for Taxing the Rich in New Year’s Eve Blog Post

Microsoft founder, Co-Chairman of the Bill & Melinda Gates Foundation, Bill Gates poses during a photocall at the start of the funding conference of Global Fund to Fight AIDS, Tuberculosis and Malaria, Lyon's city hall, central eastern France, on October 9, 2019. - The Global Fund to Fight AIDS, Tuberculosis …
LUDOVIC MARIN/AFP via Getty

Billionaire and Microsoft founder Bill Gates wants rich people, including himself and his wife, to pay more taxes as part of his New Year’s resolutions.

“I’ve been disproportionately rewarded for the work I’ve done,” the billionaire philanthropist mused in a blog post called “What I’m Thinking About This New Year’s Eve.”

“The rich should pay more than they currently do, and that includes Melinda and me,” Gates added, referring to his wife and cofounder of the Bill & Melinda Gates Foundation.

Gates argued the U.S. needs to raise taxes to fulfill its obligations, as it collects 20 percent of GDP in taxes but spends 24 percent. He added that raising taxes on the wealthy would narrow the wealth gap between the richest and poorest of Americans.

The billionaire argued that most of this money needs to come from a capital gains tax on investments as opposed to a tax on wages and salaries.

“We’ve updated our tax system before to keep up with changing times, and we need to do it again, starting with raising taxes on people like me,” he said. The taxes should be spent smartly to “build a healthier, more equitable world for all,” he added.

Gates has a net worth of $113 billion, making him the world’s second richest person behind Amazon founder Jeff Bezos, according to Bloomberg’s billionaires index.

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