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National Venture Capital Association President Mark Heesen argues lower taxes help entrepreneurs to create startups like Bill Gates did.
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Right now the guys says -- -- is one thing about among younger senators gates is like mr.
01 million of that.
Is that right so maybe that detached from even -- 1% of -- here national venture capital associations markets and talent.
That close at least on this particular issue -- say he's he's he's getting a mixed message here.
Well I think that Bill Gates it's great to see him be a billionaire today but he wasn't always a billionaire he was a struggling entrepreneur or working alongside -- I'd venture capitalists to create one of the best companies in the world.
And we wanna see more entrepreneurs and we wanna see more venture capitalists creating the next Microsoft's -- -- it seemed as though isn't it's just invent him because he started what -- early -- you think it would would Microsoft.
That was a prohibitively high tax environment the top rate was north the 70%.
On and it didn't affect -- arm or is buddies.
-- I think it did I think that what you've seen over the last couple of years in particular with capital gains which is an an Oracle part of -- -- that it doesn't sent an entrepreneur or.
It doesn't send people to leave an established company.
And go out and create their own company if they know at the end of the day that they're gonna be rewarded for that hard work.
You know I always credited to seeing there when the president will use billionaires to support -- argument that you should -- taxes on multi 100000 shares leaving that aside.
-- I don't know any other way to call it the class warfare then you know it it doesn't negative attached to that.
But it is what it is right -- think that you we look at it from the point of view of the venture capitalists in the October nor.
We just want to see jobs created in the United States to get to the next level.
After this very core content would venture -- by nature and those who who who take risks are on.
Upcoming technologies.
Or plants like big capital case that they are confident they could turn around -- Do they do it based on what the rate is at the moment and other words today factor that in all right -- the rate is 50% on capital gains.
I could do certainly better than 50%.
To cover that.
But it's 28% 35%.
39%.
Maybe not.
Absolutely but you're looking.
You're gonna look at a venture capitalists instead of looking at things -- five to seven your perspective and and and really investing in young emerging companies saying.
Maybe a little bit more conservative here.
If -- Bernanke get a higher tax rate maybe I'll look at more established companies to invest in.
Which isn't necessarily a bad thing but doesn't create the adopt new and up and coming exactly doesn't -- you're not getting the right technologies they -- not getting that the new employees that you need.
This is more of a personal quest to GO but our -- -- billionaires.
Talk like startled.
But they it's I can't get a sense they they feel guilty.
Well I think that I think it's wonderful to see people succeed in the United States.
We'd love to see a lot more venture capitalists V millionaires and billionaires most of -- -- frankly.
Most of them are out there struggling with their portfolio companies to make.
You know something in five to ten years and you know I say if you're going to be that successful it's it's great for America as a whole.
Time and give -- -- and every -- of your -- it but don't start lecturing us and we're doing ours are -- that was great that.
