Gates, who held the title of the richest man on Earth on and off for decades before Amazon CEO Jeff Bezos unseated him a year ago, also ripped the increasingly popular modern monetary theory.
During an interview with The Verge, successful businessman Bill Gates slammed Representative Alexandria Ocasio-Cortez's tax policy.
"That's ordinary income", he noted.
"I have paid more than $10 billion in taxes, but I should have paid more", Mr. Gates, who is worth roughly $96.5 billion, told the United Kingdom.'s Daily Mail in an interview published Tuesday. So the ability of hedge fund people, various people - they aren't paying that ordinary income rate.
Gates, who along with his wife Melinda have become some of the world's leading philanthropists, allowed that the tax code could be made 'more progressive, ' but didn't spell out exactly how. The top marginal rate is now 37 percent.
While Ocasio-Cortez has been impressive in many ways on social media, she doesn't lead in other metrics, with Sen.
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'We can be more progressive without really threatening income generation - what you have left to decide how to spread around, ' Gates said, noting the tradeoff that many economists point out.
'If you focus on that, you're missing the picture, ' he said.
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.
Rich dude Bill Gates told funnyman Stephen Colbert on Tuesday that the wealthy need to pay their fair share in taxes but that a proposed 70 percent marginal rate is flawed. "That doesn't mean all $10 million are taxed at an extremely high rate".
"I'm going to be the bad guy, which I'm sure half the room would agree with anyway, and I want to get away with as much bad things as possible, ideally to enrich myself and advance my interests, even if that means putting my interests ahead of the American people", the New York Democrat began.
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