'I'd Still Have $1.3 Billion' – Bill Gates Says Bernie Sanders Would Take 99% Of His Fortune. He Claims He'd Be Fine Losing Just Half Of It

Bill Gates and Bernie Sanders are an unlikely duo, but they share one common belief – the rich should be taxed more. Gates even says he'd be okay with losing much of his wealth. However, Bernie, as always, takes it one step further.

On The Late Show with Stephen Colbert, Gates discussed his new Netflix docuseries, “What’s Next? The Future with Bill Gates.” Colbert mentioned the conversation that Gates had with prominent billionaire critic Bernie Sanders throughout the show. Sanders doesn’t hold back when expressing his belief that billionaires shouldn’t exist. Gates seemed unbothered by Sanders’ opinions and emphasized that he's also in favor of making the tax system more progressive.

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“I told Bernie I’d make the tax system more progressive,” Gates said, joking that while Bernie would like to take away 99% of his wealth, he'd be fine with giving up half. “I would have paid, you know, twice as much in taxes,” Gates said, “But I would still be a billionaire.” Colbert responded with humor, pointing out that even after losing 99% of his fortune, Gates would still have $1.3 billion left – plenty to get by.

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Gates shared more details about this meeting on his website. When he emailed Sanders asking if he'd be interested in sitting down for the series, Gates didn't expect a quick response. But, to his surprise, Sanders replied almost instantly: “Bill – This sounds fun. Let's do it.”

Although they had previously met, this was their first extended discussion about inequality, and despite their differences, Gates thought Sanders was affable. Their meeting ended with both laughing when a passerby did a double take, recognizing the unexpected pairing of Bernie Sanders and Bill Gates together.

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Gates' new docuseries, which launched on Netflix on Sept. 18, explores some of the most pressing topics of our time, including climate change, artificial intelligence, income inequality and more. 

Sanders was just one of several high-profile guests, including Anthony Fauci, Lady Gaga and Mitt Romney. Gates used the series to learn from experts on these topics, something he's always loved doing.

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In the episode with Sanders, they also talked about Gates' proposal for taxing robots – a topic Sanders also touches on in his new book, “It’s OK To Be Angry About Capitalism.” Gates first suggested the idea back in 2017, arguing that if robots are replacing human jobs, they should be taxed similarly to human workers to offset the loss of payroll taxes. Sanders backed this idea, pointing out that it's time to adapt tax and regulatory policies to ensure automation doesn't simply become a “race to the bottom” for corporate profit.

According to Bloomberg, Gates, who has a net worth of $161 billion, believes the wealthy can afford to give back more. He even admitted that under the tax system he envisions, he'd be “tens of billions of dollars poorer.” He also thinks estate taxes should play a bigger role in addressing wealth inequality.

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