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Philanthropist Bill Gates on tax reform and whether major tax deductions should be on the table.
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Well this is a Fox Business so I don't know charm alarm -- Obama could still ahead on taken Watson about taking his charm offensive to the capital yet again.
A butter -- any of the folks he's glad handing even remotely budget.
Democrats still are demanding more tax hikes.
Republicans a lot more spending cuts Bill Gates tells me ultimately it won't be up to them it will be up tell us.
Both sides.
Are revisiting all the I guess the sacred cows including.
The charitable deduction -- whether it would be limited to whether it would be capped.
What does that worry.
-- -- I would I really wonder if the American public's ready to give -- that major deductions.
Mortgage and pressed.
You know state income tax.
Charitable deduction so.
You know I -- I really wonder when people talk about -- -- lower rates won't get rid of you know three to four trillion of deductions that way.
If that's realistic you know I think you can build a new system.
It would be very unfortunate if they'd give a cut back charitable giving because every other country I go to is MBS and wanting to have.
This movement because these nonprofits a lot -- step in and do things and very.
Innovative ways and and other countries are trying to get but magically we have.
You seem to be -- for us more what's.
Foreigners have more more or what they're doing hasn't been maybe slightly got to move on because you you would mention -- the other day talking about England that you wish it.
We could be more like them I'm not I'm done sort of paraphrasing here so that the president.
Might have more power than -- more Cingular discretion.
And control over what he wants to do bomb would you say congress just gets in the way congress wastes his time what we -- -- -- -- You its system or last several hundred years has done the best of any system and so you know I think we have to think twice before earth.
We concur with that at all you know right now.
It isn't making decisions.
That lead take you know them.
Government knowing what that bugs it's gonna be and so it's you know it's not -- excess situation right now so I was saying and I look a tiny bit MB asleep.
At the parliamentary system like the UK where when -- voted into power you you.
You can actually implement a lot of things it's not quite this detour NN.
Now.
You know that's just me brighter.
What does that implemented a lot of stuff that didn't work and other dealing with a recessionary it cuts both ways but.
You would you -- using David dared kind of approach to government and aren't -- I'm hoping that our system doesn't end up in deadlock production and I added that -- and that's what bothers and I don't -- design.
Actually avoids deadlock a little better but since I'm not a -- an expert in the area.
You know I'm just saying -- our system has always found its way.
After the sent -- back to function and then you know I'm hoping that that takes place in the areas I do know education foreign aid.
You know I'm a little bit concerned about the uncertainty and speaking up so that as we make tradeoffs.
That in -- hopefully we're not cutting things that that really have great humanitarian and security benefit.
You know I was reading through what -- pursuing of these -- not only on on this foreign -- issue.
But -- relaxed immigration policy more green energy increased spending on on on.
On energy period obvious that it -- to advance.
Education technology that has been that the certainly it as a very big -- -- -- -- -- I'm not I'm reading it I'm saying well that is the administration's agenda by and large so I guess and I don't want and for politics and anything -- so you'll indulge me.
Is it fair to say you like the Obama agenda more than you like the republicans' agenda because there against almost all of.
Not eight.
I in the area of education is I think actually that's one of the more bipartisan -- because right now.
Then the most others the idea that.
Teachers need feedback and that we need to bring technology and because those costs are out of control.
I think we're making some progress -- that because it's not that partisan everybody wants wants great education.
If you look at things like the aids program which came in with the Bush Administration I think that's bipartisan -- -- I eight despite all these numeric challenges I don't think anybody wants to teach aids drugs.
Away from people in energy.
I wish -- we could shift some of the subsidies.
For any -- -- energy and increase research.
And I don't think out say Democrat vs Republican issue American research seriousness about research and health and energy.
If we come up with the right energy thing.
Then you eat it it's cheapen up you get rid of this -- citi's -- which is where.
Those gigantic cost come in and and you can imagine other countries that are likely to do the subsidies and -- it so.
I you know that the push I mean for energy research I felt that was that was bipartisan talk more about.
Technocrat where you know given a certain out of money I wanna make sure it's about -- -- wanna make sure science and innovation are considered in those policies.
And you know I'm I'm just hopeful that we reach pragmatic agreements on no don't don't don't -- -- do any any at -- particular corner.
-- All right so -- political corner but you gotta wonder whose corners in.
