Bill Gates criticises Elizabeth Warren’s wealth tax

Microsoft co-founder Bill Gates on Wednesday became the latest billionaire to criticise Elizabeth Warren for her signature wealth tax.

In an appearance at the New York Times DealBook Conference, Gates said he’s paid $US10 billion ($14.5 billion) in taxes and wouldn’t have minded paying twice that, but joked that, “When you say I should pay $US100 billion then I’m starting to do a little math about what I have left over.”

Bill Gates has weighed in on presidential candidate Elizabeth Warren’s wealth tax plan. Credit:Bloomberg

Gates supports higher estate taxes and “super progressive tax systems,” but questioned whether Warren’s 6 per cent tax on assets of the wealthy would prove counterproductive.

“I do think if you tax too much, you do risk the capital formation” and innovation, as well as imperiling the US “as the desirable place to do innovative companies,” he said.


Related posts

Make a comment