The Wall Street Journal reports that Bill Gates father has contributed $500,000 to a campaign for a ballot initiative (I-1098) that would place a new income tax on the rich in Washington state. His son, the founder of Microsoft, and now apparently only the second wealthiest person in the world, hasn’t gone public with his feelings about the measure which aims to levy a new tax on individuals earning more than $200,000 a year and couples earning more than $400,000. However, according to the WSJ, “A person close to Mr. Gates, says he will, in fact, vote in favor of 1098.”
At the same time, it appears Microsoft CEO Steve Ballmer, is backing a move to defeat the measure.
Washington, is one of seven states without a personal income tax. I-1098 would raise $2-billion a year to fund education and health care.