Bill Gates is the second most precious person in the world with a fortune of 108.8 billion US dollars, according to Forbes. He has also been the richest man in the world more than once. But Bill Gates is not relieved to be the owner of this massive amount of money.
As Bill Gates recently wrote in a blog post, his nearly 109 billion fortune proves that his country’s economic system is in trouble.
What does this mean?
Do you think Bill Gates thought his fortune was going to be even bigger? Or not just pay attention to when something to do? Think for 10 seconds, then match your answer with the rest of this post.
Well, I’m assuming you’ve figured something out. Now let’s find out what Bill Gates thinks.
In a blog post published on the eve of New Year 2020, Bill Gates wrote, “The gap between high and low incomes in the United States is much wider than it was 50 years ago.”
Bill Gates thinks he has made a disproportionate amount of money for his work where many other people are struggling to make a living.
Not just the US problem. The gap between the incomes of the upper class and the lower class is widening worldwide.
Those who are wealthy are owning more wealth. Low-income people have to struggle more to make a living.
To solve this problem, Bill Gates thinks that the government should increase the amount of taxes imposed on the wealthy.
“Because now we have to think about rich people. Those who need to pay more. And of course Milinda and I will be with them”.
More tax should levy on the “capital gain” of investors. None of the world’s wealthiest people has amassed wealth through paid employment alone, and that’s why Gates believes the government should raise taxes on capital more than on labour.
Leaving a considerable amount of wealth for children is not suitable for anyone. We need to focus on encouraging the next generation to contribute to the work and the economy.
According to Bill Gates, co-founder of Microsoft, additional assets need to reinvest in society through higher taxes or public works.
And that’s why Bill Gates thinks that the enormous amount of money he owns proves that the economic system is not fair. That is why he has made so much money for his work.
He is referring here to the economic system of the United States, but the same can said of other countries in the world.
Bill Gates has pledged to spend most of his resources on public welfare. He and his wife co-founded the Bill & Melinda Gates Foundation.