Bill Gates spoke at New York’s 92nd Street “Y” this week.
Among the points he made:
- Wall Street pay is often too high
- But this is a really tough problem to solve
- Government meddling usually makes it worse
- The government’s 1990s decision to limit tax deductions on salaries of more than $1 million a year created the biggest increase in compensation in history
- AIG shows just how disastrous government involvement can be
Bloomberg has video excerpts.