Bill Gates and many other wealthy individuals feel that taxes on the ultra-rich should be increased

Bill Gates and many other wealthy individuals feel that taxes on the ultra-rich should be increased

Bill Gates has advocated taxing the wealthy on several occasions.

"Those who have the most" need to be more giving, he said at the World Economic Forum.

More billionaires now support Bill Gates' demand that the very wealthy pay more taxes.

In his yearly Reddit "Ask Me Anything" session, the Microsoft co-founder expressed his astonishment that higher taxes on the wealthy weren't implemented.

During a panel discussion this week at the World Economic Forum in Davos, Gates reiterated his demand for taxing the wealthy. He suggested that in order to help end inequality, the wealthiest nations need to provide underdeveloped nations more funding.

"Those who have the most – when it's countries, companies or individuals – should be encouraged to be particularly generous," he said. More than 250 very rich individuals have signed an open letter urging world leaders to implement a wealth tax, suggesting that others share their views.

"Our request is simple: We would you like to tax the richest people in society," the letter said. Furthermore, it claims that taxes on the wealthiest will not "fundamentally alter" or "disenfranchise" their offspring.

Abigail Disney, whose grandpa Roy O. Disney co-founded the Walt Disney Company, is among the signatories to the open letter. Actor Brian Cox from "Succession" and Rockefeller family member Valerie Rockefeller are also featured.

"If chosen officials of the world's leading economies do not take action regarding the dramatic growth of economic income disparity, the consequences will continue to be devastating for societies," the contents of the letter said.

As part of the "Proud to Pay More" campaign, which was organized by Patriotic Millionaires, Patriotic Millionaires UK, TaxMeNow, Millionaires for Humanity, and the nonprofit organization Oxfam, the report and letter were made public.

Abigail Disney notes in a letter included with the report that she felt it was "wrong" to go from California to New York alone on her family's private Boeing 737.

The heiress of Disney said: "I have since stopped flying privately while having made other adjustments to my everyday activities in an effort to protect the environment."

He said that the "private jets, superyachts, gas-guzzling hot rods, helicopters as well as (for a lucky few) private space rockets" of the wealthiest 1% were somewhat to blame for climate change.