News Productions Multimedia Marketplace
Sign up for Grabien Breaking News Alerts

For full access to this clip, save a copy to your eLocker, buy an embed code, or log into your GrabienGold account.
 Use clipper to adjust file type
Bill Gates on Income Inequality: 'The Poor Are Not Getting Poorer' in America



Morning Joe

Name: Morning Joe


Mika Brzezinski

Name: Mika Brzezinski

Employment: MSNBC

Position: Host, author

, Joe Scarborough

Name: Joe Scarborough

Employment: MSNBC

Position: Host, Author

, Bill Gates

Name: Bill Gates

Employment: Microsoft

Position: Non-executive chairman

Not online media
income equality is an important issue. the poor are not getting poorer. that's just absolutely, completely and totally wrong. you know, if you take a country like china, which has a third of the world's poor people, they reduce their poverty rate from 60% down to 10%. and their economic growth has been much, much faster than the rich countries. if you get the middle income countries, the poor in the world -- this has been a great 25 years for them. now you do have some big fortunes like the one that i'm lucky enough to have temporarily. >> right. >> that is going back overwhelmingly to help the poorest in the world, to create new vaccines. >> right. >> so the children don't die, to create better seeds so kids have better nutrition. and -- >> you're doing that, obviously. warren buffett is doing that. there's a lot that aren't. the question is, though, because you're looking at long-term trends, what do we do -- for instance, here is a staff thatt that we always bring up. 1973, average income for middle class americans has gone down. we're becoming so much more productive we don't need the same sort of industries we had in post-war america. any thoughts on what we do? >> well, the root for reasonable income is to invest in people's skills. and that means various forms of education. it means improving inner city education, community colleges. that's where the u.s. is way behind other countries. we don't have an education system that's working for our lower income people. we have a lot of single-parent households. these are more structural type problems. median income is up. goods and services that you can buy are up. we shouldn't get this picture that everything is going wrong. yes, we should reduce inequality, but there are things that have been going well, lick in the cases where you have charter schools and you see those kids come out. they go to four-year colleges. they do move up in the income level. and it's not a zero sum game. it's not okay, here is this pie and we take from here and get to here. ...
Please wait...