Bill Gates, Sr., the father of Microsoft billionaire Bill Gates, is trumpeting a new state income tax in Washington for individuals who earn more than $200,000 a year or couples who earn more than $400,000 to benefit the state's public education and health systems.
The initiative, I-1098, would impose a personal income tax of up to nine percent on Washington's highest earners, but cut property and business taxes for small firms and homeowners. Washington is currently one of seven states with no personal income tax and the state has a history of strong public opposition to taxes.
Gates, who donated $600,000 in support of the measure, told reporters in a conference call on Wednesday that the tax would provide a "vital investment" of about $2 billion in Washington's underfunded public schools and health care facilities. MORE...
Thursday, October 28, 2010
HuffPo: "Bill Gates, Sr., Promotes 'Robin Hood' Tax On Washington's Wealthy" (with video)
Laura Bassett (HuffPo) with video: