Bill Gates: Rich Should Pay More Taxes (VIDEO)

According to a recent interview, billionaire Bill Gates isn't too upset with the prospect of paying more taxes.

"The United States has a huge budget deficit, so taxes are going to have to go up," the Microsoft co-founder told the BBC. "And I certainly agree that they should go up more on the rich than everyone else. That's just justice."

With President Obama striking a populist tone in his State of the Union Address and Republicans deriding his proposal to tax millionaires at a higher rate as "the politics of envy and division," it seems clear Gates is more inclined to agree with the president on this issue.

Gates has previously advocated for a so-called "Robin Hood tax" on the trading of stocks and bonds to help fight global poverty, according to Politico.

And back in October, Gates told ABC he was "generally in favor of the idea that the rich should pay somewhat more" than everyone else.

But Gates' latest statements on taxing the rich are perhaps his strongest yet.

"I hope we can solve that deficit problem with a sense of shared sacrifice -- where everybody would feel like they're doing their part," Gates went on to tell the BBC. "And right now, I don't feel like people like myself are paying as much as we should."

Via Think Progress

Comments

[FDLS]

07:23 PM on 11/08/2012

Then help yourself Bill, you have plenty. But it should be your choice not the rest of the people. You made your money honest, just happened to make more than most. I don't feel anyone should be punished for success.

[Judy Konos]

12:29 PM on 06/22/2012

Bill Gates agrees with President Obama. He is a far cry richer than Mitt Romney will ever even hope to be. It will take an Act of Congress to increase taxes on those who are in Bill Gates league. Do you think the Congress Men and Women will raise taxes on themselves? NO...but Kudos to Bill Gates and Warren Buffet for enlightening the Public.....

[ibsyboy]

11:53 AM on 06/21/2012

There are rich people who know how much wealth is enough. There are rich people who use their wealth for reasons other than profit taking.

[JetfireK]

10:38 AM on 06/02/2012

Do you think Gates and Buffet should pay the same tax rate that you do?

[ibsyboy]

12:00 PM on 06/21/2012

Yes. We regular folk have helped them in their success. We have voted for Politicians who have gone on to lower Taxes and created loop holes and exemptions, which added to the growth of wealth for these folks, so yes they should pay the same if not more than I do. They benefit from what America has to offer, not just their buying power, but law enforcement, legal system. They have gotten more out of Democracy and Capitalism than the average American. They can not succeed with out the American worker and consumer. Yes, they should help the country that provided the climate which made them able to fulfill their personal dream of massive wealth. Why shouldn't they?

[JetfireK]

10:35 AM on 06/02/2012

Romney walks in repeals the 20th Century-MISSION ACCOMPLISHED!

[JetfireK]

10:29 AM on 06/02/2012

I do so wish that this guy would not talk and just play the video. We really do not need him talk on and on whereby people lose interest.

[Ted Glass]

04:00 PM on 01/27/2012

So Buffet and Gates side with Obama

The Koch Brothers and Goldman Sachs side with Republicans.

Which side would you like to be on?

[Joel Mendez]

06:31 AM on 01/29/2012

the INSIDE. apparently, the food is better.

[JetfireK]

10:31 AM on 06/02/2012

Bill Gates and Warren Buffet...as President and Vice President....then we would have business men running America.....who also have a heart and help others......

[greenlass]

11:46 AM on 01/27/2012

Speaking of the rich not paying enough taxes: tax the churches.

[Jeannie Bryant]

11:44 AM on 01/27/2012

If Gates wants to help this country he needs to hire more Americans...

[blueken60]

11:29 AM on 01/27/2012

You know what, I don't even make $100k a year, and I'm willing to pitch in more, if it will protect SS and Medicare and pay down our national debt. You love this country, put your money where your mouth is. Please don't tell me that Bill Gates dosen't understand business or captialism.

[poor tired]

03:49 AM on 01/29/2012

hey, one person should be able to live on less than $100K a year, don't cha think?

[blueken60]

08:50 AM on 01/30/2012

My wife and I do. It depends on where you live, and what you call livng. If you live in NYC, it's a stretch. If you need a grantit top, walking in closet, crown molded McMansion, it's a stretch.

[FDLS]

07:28 PM on 11/08/2012

Why so the government can have more to spend?? You know they will not use it wisely, don't you? They will just aquire more dept and expect you to give more. When does the government think they have enough?? Think the best thing is for them to learn to manage the billions they already get from the citizens. That is the reason we are in debt to our eyeballs. We have no say, they spend like there is not tomorrow because it is not their money.

[tonylaz]

12:18 AM on 01/27/2012

"Gates went on to tell the BBC. "And right now, I don't feel like people like myself are paying as much as we should." "

Well why doesn't he pay more? I'll bet he could his accountants to figure a way. There's nothing except hypocrisy stopping him from writing a check !

[Ted Glass]

04:03 PM on 01/27/2012

Tired argument. Sure Gates could write a check for more than he owes. But what does that have to do with the millions of people who won't write a check for "one dollar more", to quote Romney, than they owe?

[tonylaz]

09:56 PM on 01/27/2012

He's the one complaining, and you're stupid enough to believe him.

[JetfireK]

10:32 AM on 06/02/2012

Because the law protects the rich. He can only pay what the IRS denotes that he is to pay!

[tonylaz]

03:45 AM on 06/19/2012

Not so !!  The treasury dept will, like the local Mafioso,  accept as much as you're dumb enough to give. If he chose, he could give his entire financial worth, house, business, stocks, everything he owns and the Treasury would grab it.

[LiBra99]

08:14 PM on 01/26/2012

I gotta say I agree with Gates, and I'm sure most people do (at least members of the 99%). I just read the other day that Mitt Romney only paid a federal tax rate of 14% in the last two years on the $43 million he made. The reason? It was capital gains (investments). That's ridiculous. The very rich should be paying more on everything, including capital gains!

Gingrich wants to eliminate taxes altogether on capital gains. Under that plan, Romney wouldn't have had to pay a dime in taxes.

[tonylaz]

12:19 AM on 01/27/2012

And how much did you pay?

[Ted Glass]

04:04 PM on 01/27/2012

His/Her fair share, more than i can say for Romney.

[LiBra99]

08:55 PM on 01/27/2012

More than Romney. Even though I'm a struggling recent grad from a Tier 1 University (graduated with honors) who worked unpaid internships while working another job and freelancing just to try to make it.

If you think Romney paid his fair share, you're insane.

[Kenz300]

05:52 PM on 01/26/2012

The top 1% lost their ethics somewhere along the way. The greed is good gang took over.

It is good to see that some of them like Gates and Buffet recognize the inequality and want to see it fixed.

[land2341]

06:22 PM on 01/26/2012

No, somewhere about it, it was largely the influence of Ayn Rand (Objectivism) and John Nash (Game Theory) that did it.

[Judy Konos]

12:40 PM on 06/22/2012

I think its that Bill has gotten older has a beautiful family and a caring wife, who unlike Ann Romney, works hard daily helping others...Melinda Gates would make an outstanding First Lady.......

[novictim]

07:02 PM on 01/26/2012

I don't think there was a "loosing of ethics". We're short in memory...we're human so the horrific behavior of the Robber Barons and Rail Road and Mining monopolists of yesteryear are forgotten.

And more importantly, we forget the forces that brought those powers to heal, the forces that scared the beejezus out of their puppet lawmakers and directed major tax and regulatory reform, antitrust laws.

The forces I refer were the RED SCARE. That saved us. That violent and unrelenting movement massacred the wealthy and there US relations saw the writing on the wall...and capitulated. We will need to learn this lesson again.

[goldiggerrr]

05:35 PM on 01/26/2012

Thanks Mr Buffet.

[za101]

04:59 PM on 01/26/2012

The best way for democrats to win this tax on rich is to have Buffet and Gates , Soros and other billionaires make a 30sec or minute ad saying they want to be taxed more so that the deficit can come down.

[CMontalvo]

05:16 PM on 01/26/2012

News flash: those billionaires are currently allowed to pay as much tax over their required tax as they want. No changes to the tax code are needed. Wonder why they aren't...

[blueken60]

11:36 AM on 01/27/2012

Because unilateral action would not be suffiecent to solve the problem. Read "shared sacrifice". The greatest generation our country has ever known (WWII people) could sacrifice for a better tomorrow, time for us to cowboy up.

[msw62msw]

04:55 AM on 01/27/2012

The problem with that is the politicians have proven time and again that if they get their hands on more money, they will spend it, not "pay down the deficit.". The onlyway to ge,t the deficit under control is to deprive them of our money.