Another common-sense multi-millionaire calls for higher taxes on the rich.
Venture capitalist and entrepreneur Nick Hanauer has stern words for millionaires -- it's time to pay your fair share of taxes.
The self-made millionaire, who sold his Internet media company aQuantive to Microsoft for $6.4 billion, tells Henry Blodget in the above video that he supports changes to the tax code.
"People in the top 1 percent are paying historically low tax rates," he says. "That's simply an unsustainable way to run a capitalistic society."
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"We are systematically destroying our customer base in this country by undercutting the middle class," he says. "If it was true that the rich and business were job creators, we'd be drowning in jobs today."
video at link: http://finance.yahoo.com/blogs/daily-ticker/millionaire-investor-calls-higher-taxes-rich-145808200.html
He also notes in the video "why would I care if my tax rate rises 10% if it means alot more customers would buy my products?"
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