Elizabeth Warren tells Bill Gates she'll explain her wealth tax to him

Elizabeth Warren tells Bill Gates she'll explain her wealth tax to him

"If I had to pay $20 billion, it's fine", Gates said during a New York Times conference when discussing a possible wealth tax.

Microsoft co-founder Bill Gates says we would all be using Windows Mobile today instead of Android if an antitrust case had not been lodged against it in the late 90s.

A few mocked his math, out that "even if someone was asking Bill Gates to pay $100 billion in taxes, and nobody is, he would still have more money left over than Oprah and Richard Branson have combined". "I think you can make the estate tax higher; you could even take people who have sat on huge gains for say ten years, and say okay, you should create a taxation event there".

Warren tweeted Wednesday night that she would meet with Gates to explain her wealth tax. "Sorry. I'm just kidding".

Gates, who Forbes estimated last month was worth $106 billion, added that he has paid "over $10 billion in taxes". Elizabeth Warren in a back and forth about wealth and taxes.

Earlier this year, Gates said losing in mobile to Android was the biggest mistake he has made as an entrepreneur.

Do American billionaires really have to pay more taxes?

During his interview Wednesday, Gates was pressed on who he would vote for in a hypothetical general election between Warren and President Donald Trump, whose policies and rhetoric he has lightly criticized, particularly when it comes to foreign aid. "I screwed that up because of the distraction", said Gates, who added the antitrust battle also caused him to retire sooner than he original planned. "I'm good at innovation. and it's very much a full-time job", he said.

"I hope the more professional candidate is an electable candidate", he added.

There are more than 600 billionaires in the U.S., with more than 40% of them residing in California and NY, according to U.S. News & World Report.

"That amount is in the ballpark of Gates" total estimated net workth.

They said in a letter: "The United States has moral, moral and economic responsibilities, and taxes our wealth more".

Gates expressed some apprehension about the "wealth tax" proposed by Democrats Elizabeth Warren and Bernie Sanders, admitting he'd only be willing to fork over so much of his massive fortune.

The "incentive system" could be impacted by new taxes, and there are other ways to raise capital "without threatening" the existing system, he said.

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