WASHINGTON — Microsoft co-founder Bill Gates, who has advocated for higher taxes on the rich, was asked on Monday if he will donate to the U.S. Treasury in the absence of tax rate increases for wealthy Americans.
In December of 2017, the GOP-led Congress passed across-the-board tax cuts for individuals along with a reduction in the corporate tax rate from 35 percent to 21 percent.
“I have paid more than $10 billion in taxes but I should have paid more. I more than followed the law but I think things should be more progressive,” Gates said during an interview in February.WATCH:
“You want the portion that comes from the top 1 percent or top 20 percent to be much higher,” said Gates, chair of Breakthrough Energy Ventures.
Gates, the second-richest person in the world, was in town for an Economic Club of Washington, D.C. event on Monday when PJM asked him if he would donate to the U.S. Treasury in the absence of tax increases. In response, Gates smiled and said, “Thanks.”
Any taxpayer can contribute toward paying off the national public debt on Pay.gov.