In an exclusive video interview, business owner and former NBA star Earvin “Magic” Johnson told The Daily Caller that he is “comfortable with” paying any tax rate Congress and President Obama agree on. Johnson said he is not going to “worry” about what Obama is taxing him but whether or not small business can still “get a break” while paying higher tax rates.
TheDC asked Johnson if Obama’s proposal to raise taxes on the wealthy would help the economy.
“Well, you know when you think about raising taxes, you only, and if you’re going to raise it, you’re going to have to raise it on those who can afford to pay more and I think that’s what he’s trying to focus in on. But small businesses he’s also incentivizing them too at the same time. You know he’s been doing a good job in a tough situation,” he told TheDC at an event launching four minority owned independent networks distributed by Comcast.
“This economy has been the worst of our time so he’s trying to figure it out; how to work with small business owners and also not just small business owners but women owned businesses as well. So you know I’m not going to worry about what he’s taxing me. What I’m worried about is making sure that if the taxes are going to be higher for those who make over $250,000, can the small business owners get a break and be able to employ more people? And he’s been doing a good job of doing that.”
Johnson’s company, Magic Johnson Enterprises, owns restaurants and movie theaters across the county including Burger King and T.G.I. Friday’s. The company’s capital management division has over $4 billion in developed real estate and “over $2 Billion in committed capital offers a range of financial investment management services that focus on investing in retail, housing and businesses in urban communities.”
Johnson plans to create content focused on “the successes, achievements and accomplishments of the African-American community” on his new broadcast network “Aspire.”
TheDC also asked Johnson what federal tax rate he would be comfortable paying as a business owner.
“Yeah, well wherever we land that’s what I’m going to be comfortable with. You know I’m right now I just want the economy to come back and if that’s the way the economy is going to come back then I’m all for that, raising taxes on us,” he told TheDC.
“I just want those people who we have out of work right now, millions, to be able to get a job and support their families and themselves. That’s what it’s all about right now. President Obama’s figuring out ways, working with his staff, working with CEO’s to try to make sure that happens.”
Johnson also said there are no federal rules or regulations he would like Congress to change.
“I wouldn’t say they have to change the rules. I think what we have to do is make sure we’re just small business friendly. You know and maybe the tax situation,” he said.
“I think the president, President Obama’s doing a good job of really focusing on small business owners and making sure that they work, government works with them to make sure they hire people they get some type of tax break and incentivize them for starting their own business or growing their own business so they can employ more people because that’s how the economy’s going to come back.”