Bill Gates, the Microsoft co-founder and one of the world's richest individuals, has revealed that he would be significantly poorer if he were to design the tax system.
In a recent interview, Gates expressed his belief in a more progressive tax system, saying he is a "huge believer" in the estate tax and more progressive taxation.
When asked if he thought he was too rich, Gates nodded in agreement, saying that if he designed the tax system, he would be tens of billions of dollars poorer than he is.
“I don’t think we should generally generationally let families whose great grandfather, through luck and skill, accumulated a lot of wealth, have the economic or political power that comes with that,” he stated.
Gates further noted, “If I designed the tax system, I would be tens of billion dollars poorer than I am.”
The billionaire emphasized that a more progressive tax system wouldn't hinder innovation, saying, "The tax system could be more progressive without damaging significantly the incentive to do fantastic things."
Moreover, Bill Gates is gearing up for upcoming Netflix series, What's Next? The Future with Bill Gates.
The show, premiering on September 18, 2024, promises to delve into major challenges facing society today, from artificial intelligence to climate change.
