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Bill Gates says he should pay higher taxes, doesn't 'deserve' his fortune

Bill Gates says he should pay higher taxes, doesn't 'deserve' his fortune

"In terms of revenue collection, you wouldn't want to just focus on the ordinary income rate, because people who are wealthy have a rounding error of ordinary income", said Gates, who's worth around $96 billion.

They were clear that the wealthy should be taxed more than they now are, but less sure about a specific upper tax rate.

Ocasio-Cortez's plan is just one of many emerging proposals to force the wealthy to pay more. Sen.

Gates said "we can be more progressive without really threatening income generation - what you have left to decide [is] how to spread [it] around". And the most important question of all, between the (arguably) most popular man and woman in US politics, who wore it best? Elizabeth Warren's proposed tax policy that focuses on taxing net worth on households worth more than $50 million.

He continued: "You do start to create tax dodging and disincentives, and an incentive to have the income show up in other countries and things".

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Gates pointed to analysis of the rate that top earners pay.

TMZ that asked whether she would be ok with a president who smokes marijuana in the Oval Office, a reference to California Senator and 2020 presidential candidate Kamala Harris' recent admission that she smoked cannabis, and the representative says she didn't care and didn't think it would be that much different than someone who drinks in the Oval Office. 'Anyway, you should look at that.

"If you focus on that, you're missing the picture", he said without mentioning the Democratic socialist congresswoman by name.

Her proposal to raise the marginal tax rate for those earning more than US$10 million per year to 70% has been hotly debated, though polling suggests it has widespread public support. He does plan to give to the Bill and Melinda Gates Foundation, however, which helps fight disease and poverty in other countries.