Bill Gates take on Elizabeth Warren's wealth tax

Automatic TRANSCRIPT

So what do you say we get a take on a loser with Warren's wealth tax from Bill Gates Bill Gates has paid a lot of money in taxes he was doing a I have a Q. and a with Andrew Ross Sorkin who is a writer for The New York Times you also seem occasionally on CNBC end of Bill Gates was asked about the potentially chilling effects of these wealth taxes that Elizabeth Warren is pushing here is a here is a of Bill Gates talk about this right now well I think de spam of the two parties in terms of where they are in taxation has never been so broad you have in a one party reducing corporate taxes you know still supporting carried interest taxes on capital or way way less than on labor and in on the estate tax they're still talking about Hey that's a bad thing that a dead person should pay part of their wealth and you should reduce these accumulations of wealth and now on the other side you have as you say is six percent wealth tax I am to believe something in the middle you know I I I think you can make the state tax higher you could even take people of south on huge gains for you know say ten years and say okay that there should you should create a taxation event there are I think are you treating capital income the sameness laboring com that goes on very long distance so I'm all for super progressive tax systems you do need a couple these things with more transparency the fact that you can through trust like structures hi lots of you know beneficial ownership and get away with a lot both at the corporate level and at the individual level we can do a lot better their soul I'm impressed that there are few candidates the go even beyond like you and I do think if you tax too much to do risk the in capital formation innovation U. S. is the desirable place to do innovative companies are I do think you risk that now you somebody can say I'm very biased since I've been a prime benefits for you the existing system but you know I do I'd love to somebody to find a middle ground approach because the government's role in health care and better education the government does need more resources than it has today so what would you do alright well if you make the tax on capital same as labor you go back to the estate tax that we used to have doing something like the ten year things into words super large fortune the the fortunes are not as big teddy says a return on capital the big fortunes are the return on creating companies that a T. very strong positions particularly in the technology industry that's where you get the super big numbers and so there you know I've paid over ten billion in taxes I pay more than anyone in taxes but I you know I'm glad do you know if I'd had to pay twenty billion that's fine aw but you know when you say I should pay a hundred billion okay then I'm do a little math about what I have left over sorry I'm just kidding

Coming up next