Facebook co-founder: Tax the rich at 50% to give $500-a-month free cash and fix income inequality

Facebook co-founder: Tax the rich at 50% to give $500-a-month free cash and fix income inequality

Olivia Michael | CNBC Facebook co-founder Chris Hughes thinks the government should give cash handouts to people with the lowest incomes in order to fight income inequality. And he thinks the money should come from higher taxes on wealthy individuals and even big tech companies, like Facebook.

Hughes, 34, was one of Facebook’s co-founders, along with Mark Zuckerberg and three of their Harvard classmates, in 2004. He was Facebook’s spokesperson for the company’s first three years, before leaving to finish his Harvard degree and then to work on Barack Obama’s 2008 presidential campaign as a media strategist .

He says he’s […]

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