Stephen Colbert got downright philosophical with his Late Show guest Tom Hanks Wednesday night.

For the latest installment of "Big Questions with Even Bigger Stars," Colbert and Hanks pondered questions like "Why do you think bad things happen to good people?" and "What would you do with a time machine?" while lying on a blanket, gazing up at the stars.

Check out the video below to see their answers to these questions and more - and to find out Hanks' pitch for the best movie that hasn't been made. (Yet.) And watch "Big Questions with Even Bigger Stars" with Scarlett Johansson here.