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Pimco’s Gross urges ‘privileged 1 percent’ to pay more tax

Reuters – Bill Gross, manager of the world’s largest bond fund, urged fellow members of the “privileged 1 percent,” earning the highest incomes, to support higher U.S. taxes on carried interest and capital gains to help the economy.

Gross, co-founder and co-chief investment officer of Pacific Investment Management Co., said in his latest investment outlook letter on Thursday that the super wealthy “should be paddling right alongside and willing to support higher taxes on carried interest, and certainly capital gains readjusted to existing marginal income tax rates.”

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