We already knew Bill Gates Sr, father of Microsoft (MSFT) founder Bill Gates Jr, was one heck of a toastmaster. But the old man also has some pretty strong opinions on tax policy too.
In an op-ed for the Seattle P-I the elder Gates co-authored, he says Washington State has “the most regressive tax regime in the country” and calls for a new state income tax targeting earners making over $200,000 a year.
He wants the money to go to education.
A group of citizens is coming together to promote a “high incomes” income tax. It would be offset with an across-the-board cut of the state property tax.
The new net revenue would be dedicated to public education. The vast majority of middle-class families would get a tax cut, the highest income families would pay an added tax (which they would get to deduct from their federal income taxes), and the children and students of our state would get a boost in the billions of dollars for their education and future well being, prosperity, and productivity….
Can we realise this in our state? The better question is why not. After all, we in King County live in the fourth wealthiest county per capita in the country. We have no excuse to prevent us from reforming our tax system to provide for high quality education for all of our children. That’s the American way.