During a recent session of Reddit’s “Ask Me Anything” series, Bill Gates, the founder of Microsoft, addressed a variety of questions from readers.
One of the most popular questions pertained to his status as the largest individual owner of farmland in the United States, with a reader inquiring, “Why are you buying up so much farmland?
Do you think this is a problem with billionaire wealth and how much you can disproportionately acquire?” Gates stated that he does not see any problem with his investments in farmland, which he owns less than 1/4000 of the farmland in the US, and that his investments are intended to make them more productive and create more jobs, stating that there isn’t any grand scheme involved and that these decisions are made by a professional investment team.
He also stated that he believes the wealthy “should pay a lot more” in taxes.
Gates also suggested raising taxes when a user asked how to make corporations pay “better wages” and “pay their taxes.”
“I am surprised taxes have not been increased more,” Gates remarked.
“For example capital gains rates could be the same as ordinary income rates,” the billionaire added.
Gates humorously replied to a vulgar question regarding the climate, responding that he feels climate change will slow human progression: “Climate: We f***ed or super-turbo f***ed?” the question reads.
“Climate will slow down the progress we make on improving the human condition but I still believe we can avoid a terrible outcome. The pace of innovation is really picking up even though we won’t make the current timelines,” Gates explained.
Another reader bluntly asked about Gates’ focus on vaccines and health care, a topic that has launched the computer mogul into controversy during the age of COVID-19. Gates responded saying that saving children and “giving back” was his top priority.
Speaking on technology, synthetic beef, and his greatest regrets, Gates answered additional questions before stating that he plans to give away all of his riches before the end of his life: “Everything I own will be sold as money moves into the Foundation.”