Bill Gates says he’s fine with the idea of higher taxes for the rich, but plans like the one being championed by Alexandria Ocasio-Cortez, which target the top income brackets, are too extreme—and could encourage the wealthy to hide their money in offshore accounts.

Gates, in an interview with The Verge, didn’t mention Ocasio-Cortez or her well-publicized tax proposal directly by name, but his focus was clear. While the Microsoft co-founder and world’s second richest man agreed the U.S. could be “more progressive,” he downplayed “extreme” proposals, such as the freshman representative’s plan to raise the top tax rate from 37% to 70%.

“I believe U.S. tax rates can be more progressive. Now, you finally have some politicians who are so extreme that I’d say, ‘No, that’s even beyond,’” Gates said. “You do start to create tax dodging and disincentives, and an incentive to have the income show up in other countries and things. But we can be more progressive without really threatening income generation—what you have left to decide how to spread around.”

Bill Gates made his money in one of the most heavily subsidized industries on earth (copyright and patents are subsidies), and somehow any meaningful tax reform needs to be opposed, because some rich pig will find a way to avoid the taxes, so we have to try something else ……… And the next thing, that won’t work either ……… Rinse, lather, repeat.