Gates Says Wealthy Should Pay More to Help Reduce Deficit

Microsoft Corp. co-founder Bill Gates said the wealthy should pay more as the U.S. continues to grapple with how to rein in its budget deficit.

“There’s no doubt that as you look at balancing budgets to the degree you need more revenue” that lawmakers will need to look to the wealthy “to get a little bit more from them proportionately than you get from people as a whole,” Gates said in an interview with Bloomberg Television before speaking at the Peterson Foundation fiscal summit in Washington today. “I think that’s pretty likely.”