Bill Gates is going to support an income tax for people making over $200,000 per year in Washington state, the Wall Street Journal reports.
The initiative in Gates’ home state is called I-1098. Todd Bishop at Tech Flash summarizes it:
Initiative 1098 would impose an income tax on individuals in Washington state making more than $200,000. At the same time, it calls reduction in state property taxes and the elimination of the business and occupation tax for some of the state’s smallest businesses. Proceeds from the income tax would be used for health services and public education, proponents argue.
Gates’ father, Bill Gates Sr. helped get the I-1098 off the ground by contributing $500,000 to a political campaign. Therefore, Gates supporting the tax makes sense.
But, Gates’ long time buddy, and CEO of Microsoft Steve Ballmer opposes the tax. Amazon CEO Jeff Bezos is against it, too. Both have contributed $100,000 to an anti-I-1098 campaign.
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