Gates Sr. Speaks on Philanthropy
July 12, 2006 | Read Time: 1 minute
In speaking to college officials on Tuesday, William H. Gates Sr., father of Bill Gates and co-chairman of the Bill & Melinda Gates Foundation, defended the estate tax and outlined the big role he thinks wealthy Americans should play in philanthropy, reports The Chronicle of Higher Education.
He called the estate tax, which some federal legislators seek to repeal, “the perfect tax” because “it’s society collecting back what it’s given to somebody.”
Mr. Gates Sr. also discussed Warren Buffett’s $30-billion gift to the Gates Foundation, which he said could lead the foundation to make grants in new areas such as agriculture, as well as significantly increase the amount it spends on global health and education.
