"You do start to create tax dodging and disincentives, and an incentive to have the income show up in other countries and things".
Bill Gates says he's fine with the idea of higher taxes for the rich, but plans like the one being championed by Alexandria Ocasio-Cortez, which target the top income brackets, are too extreme-and could encourage the wealthy to hide their money in offshore accounts.
"I think it's fascinating that for the first time in my life people are saying, 'Okay, should you have billionaires?' 'Should you have a wealth tax?'" the former Microsoft CEO mused. "So the ability of hedge-fund people, or various people - they aren't paying that ordinary rate, ordinary income rate".
While Ocasio-Cortez has been impressive in many ways on social media, she doesn't lead in other metrics, with Sen.
Gates pointed to analysis of the rate that top earners pay. "But we can be more progressive without really threatening income generation - what you have left to decide how to spread around".
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Gates - ranked as the world's second-richest person by Forbes on Wednesday, with a fortune valued at $96.7 billion - made it clear on "The Late Show" that systemic changes should "take a much higher portion from people with great wealth". 'Anyway, you should look at that.
There's been a lot of talk lately of upping taxes for America's highest earners.
Ocasio-Cortez used an appearance on CBS "60 Minutes" to pitch her plan to tax double-digit millionaires at a 70 percent rate - taking care to note the amount below that threshold would be taxed at lower amounts. Elizabeth Warren's proposed tax policy that focuses on taxing net worth on households worth more than $50 million. "If you focus on that, you're missing the picture".
And from a list of eight popular Democrats, Ocasio-Cortez attracted the second highest overall traffic, after House Speaker Nancy Pelosi, between when she was sworn in on January 3 and February 10 on the websites within Parse.ly's network.