A viral moment from the California governor’s debate has put billionaire Democrat Tom Steyer under new scrutiny, after he appeared to reject the idea that he personally should pay more in taxes to address inequality.The exchange took place in San Francisco on Wednesday, where Steyer clashed with Republican Steve Helton. Hilton claimed on stage that Steyer pays the lowest tax rate “of anyone on this stage.”“My wife and I have said that we will give away the bulk of our money while we are alive,” Steyer said at the discussion Wednesday night.He continued: “But paying more taxes is not the solution.”“If one person puts more money into government that doesn’t solve the problem, we need structural change,” Steyer added in the exchange.These comments went viral and were exploited by opponents, prompting the California Not for Sale committee to launch an advertising blitz. The group accused Steyer of hypocrisy, linking him to past investments in companies linked to Donald Trump, as well as companies linked to coal and private prisons, and suggesting he used offshore structures.Steyer spokesman Danny Wang rejected the allegations, saying: “Despite these misguided attempts, Tom has been consistent about taxing billionaires like him, and he is the only candidate in this race calling for billionaires to pay more.”
Steyer’s fortune is estimated at $2.4 billion, and he runs on a progressive platform that includes higher corporate taxes and a proposed 5% tax on the total wealth of California billionaires. He has also called for the abolition of ICE.However, questions about consistency have followed him before. Earlier this month, Steyer apologized after criticism emerged over past investments by his hedge fund Farallon Capital Management in CoreCivic, the company that runs immigration detention centers in California. Farallon’s stake in the company was valued at $89.1 million.