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We need to press the wealthy to give back

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Rather than a wealth tax, successful businessman and businesswomen should be pushed to donate more, according to e-commerce billionaire Michael Rubin.

“There has to be more pressure on entrepreneurs, when they create great value, to give back,” Rubin told CNBC’s “Squawk Box” on Monday. “I always bank on an entrepreneur to give back and get great results versus giving that same money to the government.”

Rubin, executive chairman of online sports apparel giant Fanatics, said that while there’s a “responsibility” when it comes to giving back, it’s better to “bet on the entrepreneur who made the money” than on the government. He also has an ownership stake in the Philadelphia 76ers in the NBA…



Source cnbc.com

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