Democratic billionaire sparks controversy by saying ‘paying more taxes is not the answer’ while discussing fixing inequality in California

The virality of California’s gubernatorial debate has put billionaire Democrat Tom Steyer under new scrutiny after he appeared to dismiss the idea that he personally should pay more taxes to address inequality.The exchange took place Wednesday in San Francisco and pitted Steyer against Republican Steve Hilton. Hilton claimed on stage that Steyer paid the lowest tax rate “of anyone on this stage.”“My wife and I said we would give away most of our money while we were alive,” Steyer said during Wednesday night’s debate.“But me paying more taxes is not the answer,” he continued.“If one person throwing more money into government doesn’t solve the problem, we need structural reforms,” Steyer added in the exchange.The comments quickly went viral and were seized on by opponents, prompting the California Not For Sale Commission to release attack ads. The group accused Steyer of hypocrisy, linking him to past investments in businesses linked to Donald Trump and companies linked to coal and private prisons, and suggesting he used offshore structures.Steyer’s spokesperson, Dani Wang, denied the claims and said: “Despite these misguided attempts, Tom’s position on taxing billionaires like him is consistent and he is the only candidate in this race to call on billionaires to pay more taxes.”Steyer, whose fortune is estimated at about $2.4 billion, runs on a progressive platform that includes higher taxes on corporations and proposes a 5% tax on the combined wealth of California billionaires. He also called for the abolition of ICE.However, questions about consistency have been with him before. Earlier this month, Steyer apologized after criticism of his hedge fund Farallon Capital Management’s past investment in CoreCivic, a company that operates immigration detention centers in California. Farallon’s stake in the company was once valued at $89.1 million.