Bill Gates says that tax rates on the wealthy were nearly double when Microsoft started and 'it didn't hurt' them. (via CNBCMakeIt)
because it is contributing an ever-growing wealth gap.
"A few people end up with a great deal — I've been disproportionately rewarded for the work I've done — while many others who work just as hard struggle to get by," Gates wrote. But he believes that "we can make our system fairer without sacrificing the incentive to innovate." That being said, Gates adds that the U.S. does "need to be thoughtful" about how the government goes about raising taxes.
"One of the reasons that innovators flock to the United States is that this country makes it easy to start a business, invest capital, and earn a profit," Gates wrote in his blog post. "We shouldn't destroy those incentives, but we're a long way from that point now. Americans in the top 1% can afford to pay a lot more before they stop going to work or creating jobs."
The debate over whether or not wealthy Americans should pay more in taxes is one that has taken center-stage in political discourse. Democratic congresswoman Alexandria Ocasio-Cortez hasAnd ahead of the 2020 election, Democratic presidential candidates such as senators
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