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Erin Burnett OutFront-20191112-00:48:00

people than rich people so she's trying to appeal to the larger group. the reality is what is the purpose of vilifying successful people that have done well for society. i don't get it. she can say that wealthy people should pay more in tackxes. i agree with that. i believe in the progressive income tax structure. i believe rich people should pay more. we have to colease around the nation what should the maximum tax be on woealthy people. why she criticizes wealthy is for political gain. he's a friend so i know his story. bernie marcus was terminated during the holiday season along with his partner and basically had three children, a large mortgage, no income, very, very depressed and he called up his friend and complained about the situation and he said what are you complaining about.

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Erin Burnett OutFront-20191112-00:51:00

intelligent people -- >> when you say closing loopholes you are telling -- i'm sorry, we have a bit of a delay. >> listen, let me explain to you. no, i disagree with the concept of the wealth tax. i agree with the progressive income tax structure. i believe rich people should pay more but there are other ways of going about it. the federal tax rate is 37%. raise it. i have no problem with that. get rid of section 1031 which allows the real estate guys to defer forever the capital gains on their real estate holdings. get rid of the carried interest that gives hedge funds and private equity funds a tax break. do something with capital gains. i have no problem paying more. i have to tell you, erin, you're talking to a guy who tends to give it all away. we're talking about a matter of principle. i took the giving prej ten years ago with warren buffet. he will say this. when i took the giving pledge, if you're talking to wealthy

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