Tom Steyer Faces Scrutiny Over Tax Comments During California Debate

A viral moment from California’s governor debate has put billionaire Democrat Tom Steyer under fresh scrutiny, after he appeared to dismiss the idea that he should personally pay more tax to tackle inequality.

The exchange took place in San Francisco on Wednesday, where Steyer clashed with Republican Steve Hilton. 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 the bulk of our money while we’re alive,” Steyer said at the Wednesday night debate. “But me paying more taxes is not the answer,” he continued. “If one person puts more money into the government doesn’t solve it, we need structural change,” Steyer added in the exchange.

The comments went viral and were seized on by opponents, prompting an attack advert from the committee California is Not for Sale. The group accused Steyer of hypocrisy, linking him to past investments in businesses connected to Donald Trump, as well as firms tied to coal and private prisons, and suggesting he had used offshore structures.

Steyer’s spokesperson Danni Wang rejected the claims, saying: “Despite these misleading attempts, Tom’s position has been consistent on taxing billionaires like himself, and he is the only candidate in this race calling on billionaires to pay more.”

Steyer wealth is estimated at around $2.4 billion and is running on a progressive platform that includes higher taxes on corporations and a proposed 5% levy on the total wealth of California billionaires. He has also called for the abolition of ICE.

However, questions over consistency have followed him before. Earlier this month, Steyer apologised after criticism emerged over past investments by his hedge fund Farallon Capital Management in CoreCivic, a company that operates immigration detention centres in California. Farallon’s stake in the firm was once valued at $89.1 million.