Netflix Founder Reed Hastings Wants To Be Taxed More

Netflix is the movie mail rental company that singlehandedly gave Blockbuster a run for its money.  On May 7, Reed Hastings sold 10,000 shares of Netflix at a price of $42.52, instantly giving him access to $425,000.  However he does not want all of that money.

Reed supports the Swedish government model where there is a “50% levy on the ultra-rich.”  The “ultra-rich” includes “hedge fund managers, star athletes, stunning movie stars, venture capitalists, and the chief executives of private companies.”

“The president should take advantage of our success by using our outsized earnings to pay for the needs of our nation,” stated Hastings. “Please tax me more.”  Netflix hit 10 million customers as of 3 months ago.

[via Fool/BusinessInsider]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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