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Philanthropist Bill Gates on his Foundation's work and the government deficit's impact on the economy.
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Now I didn't I just found it interesting that an advocate for someone who has urged the government to do more and spend more pleased that the rich should pay more.
When he had his druthers I guess a choice between committing more money to the government to pursue these goals or you and Melinda it to pursue these goals.
He chose you and Melinda.
That's true I mean -- We need is funds whatever activities we think the government should do -- we've -- of course the gap there on the question of how to how to close that gap.
We'd like to encourage more -- be because -- in my view assistance fund and it it has a good impact.
Because each one of these sectors has.
-- got to wake up and and do better every day.
For the government how do you balance the budget is is one of those those those big challenges and in everybody's got opinions about that -- indeed you're right about that update thank you go back to.
Glad to be itself and whether enough this higher tax environment there.
A lot of words I don't wanna.
If you like charitable foundations myself nothing like when you built -- -- but did do one worry we've had is that whether we're going to get an impact from.
The rich -- more -- taxes -- -- contributions.
Do you worry about that.
-- not me.
-- -- -- -- very important.
The US is very unique in.
Not only the scale plant to be -- the brunt -- that it's not just the -- to give to -- to.
-- on it in some ways it's even more impressive.
That the non rich are.
So generous in this country if you look at it state by state.
You tossed down south in -- 5% to being come.
-- given that where it's more like 2% elsewhere and so it's a broad broad movement we have very good NGOs.
You know certainly if you.
There could be some cutbacks there although because -- deductible it it cuts tiny bit both ways but not you don't.
You don't want around tax rates up unnecessarily what you do -- wanna find a balance between.
You know if these are important programs OK then that we've.
You know it you're gonna have to pay form at some point right all right so you think we've got that proper balance now even with the recent increased.
No I think he.
-- running you know higher deficit right that would like -- in the long run there's this very important argument about given the shaken -- -- economy.
How do you phasing in.
The in a debt balance and essentially closing of the deficit as a stimulus to the economy.
And do we still need that level of stimulus.
You know the -- that big long run things are the medical costs and you know I the ideal would be not to argue about.
Whether the citizen pace of the government -- but rather how do you get those increases.
To be more in line with the growth of the economy would -- they haven't been and it's it's good that the government actually protects.
Those increases.
Are there things that could be done to get more innovation on on cost reduction there I think.
You know we haven't seen -- -- thinking.
And you know certainly what I see about radical stuff.
Import countries is very suggested that it's -- the efficiency side would be ideal because then it's not a zero sum between.
Citizen vs government.
Do you ever envision going back to Microsoft in a more active data -- manage and -- whereas the foundation and its responsibilities.
But enough to keep suggests and going for the -- your life.
-- I certainly.
Missed some being full time on all out stuff I get to spend about 15% of my time on it.
But my full time commitment is to the foundation.
-- polio eradication I spend the majority of my time on that and with the partners you know by 2018 we'll get that one done that will be able to focus on malaria.
Tuberculosis you know get -- child to death rate down from.
Seven million it is Nevada even down to three million over the next fifteen years.
Finally got killed Jon Huntsman senior and I think your friend Warren Buffett has said that their goal is essentially to die broke.
Other that they wanna give it all away and I'm wondering which of three children have you -- down.
That's your -- to an -- looking at a huge inheritance and income.
Well we've certainly talk to the kids about the fact that the vast majority of the wealth is going to the foundation.
In Warren's case all of his money spent within ten years after his staff so it's not quite I've broken the money will be in foundations.
But even -- -- to spend it down not our foundation and and his children's foundations.
Our foundation is set up so after the last Amylin and I are gone our foundation -- spend its money within twenty years.
And in our our kids are excited about the foundation work they'll get.
You know a great college education and and and some support so they're you know very very lucky.
But I think there's -- for life I don't think did you -- -- -- -- -- at least that I'm gonna have to were not is not at all not and I think give if you get up to gigantic levels.
In -- giving any kid you know hundreds of millions.
Or billions of dollars it's actually not good for the kid or society.
