Billionaire Chokes Up

VIDEO: Billionairs on the Economy
Share
Copy

On a special edition of "This Week," philanthropist and hedge fund manager Tom Steyer said he believes the rich should pay more in taxes.

"You said that you would be willing to have your taxes higher. Many Americans, particularly those who are successful say, hang on, I did this work, this is a capitalist society, this is my just reward. You disagree with that notion," anchor Christiane Amanpour asked Steyer.

"I certainly do," he said.

"Because?" Amanpour asked.

"I think anyone who doesn't give credit to the system that they are born into is taking an awful lot onto themselves. I mean, I really think that people have sacrificed a lot more than a little tax money to make that system available for all of us. And I would be ashamed of myself if I didn't give some credit to them," Steyer said, choking up and pausing to regain his composure.

"It's emotional for you," Amanpour said. "Do you feel we're in trouble?"

"No," said Steyer, a partner at the hedge fund Farallon Capital Management. "I think the U.S. is great. I think that people need some ideas. I think that they need a strategic sense. But I have enormous confidence in Americans to work hard and to be smart and to do the right thing."

Amanpour's interview with Steyer and his wife Kat was part of a special edition of "This Week" on the Giving Pledge, a philanthropic endeavor spearheaded by Warren Buffett and Bill Gates. It "is an effort to invite the wealthiest individuals and families in America to commit to giving the majority of their wealth to philanthropic causes," according to its founding statement.

null
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...
See It, Share It
PHOTO: A home damaged by a landslide Friday, April 18, 2014 in Jackson, Wyo. is shown in this aerial image provided by Tributary Environmental.
Tributary Environmental/AP Photo
null
Danny Martindale/Getty Images
PHOTO: Woman who received lab-grown vagina says she now has normal life.
Metropolitan Autonomous University and Wake Forest Institute for Regenerative Medicine
PHOTO: In this stock image, a woman with a hangover is pictured.
Peter Dazeley/Getty Images