Pimco's Bill Gross said that wealthy Americans, having reaped the benefits of favorable tax treatment, should be willing to pay a greater share to bolster the prospects of the working class.

“If you’re in the privileged 1 percent, you 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,” Gross wrote in his monthly investment outlook posted on Newport Beach, California-based Pimco’s website today. “Stanley Druckenmiller and Warren Buffett have recently advocated similar proposals. The era of taxing ’capital’ at lower rates than ‘labor’ should now end.”

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