Former president Barack Obama Scott Olson/Getty Images

Former President Barack Obama told Democrats at a California fundraiser on Thursday evening that he was open to higher taxes on rich people, including himself, according to a report in The New York Times.

„I’ve got a lot of room to pay more taxes — and I already pay really high taxes,“ he said.

Obama’s remarks come as the current slate of Democratic candidates propose a variety of higher taxes on the rich, including imposing new ones on capital gains and other Wall Street transactions.

Business Insider previously reported that Barack Obama’s current net worth is $40 million.

Visit Business Insider’s homepage for more stories.

Former President Barack Obama told Democrats at a California fundraiser on Thursday evening that he was open to higher taxes on rich people, including himself, according to a report in The New York Times.

„I’ve got a lot of room to pay more taxes — and I already pay really high taxes,“ he said. „That’s one area where, I guarantee you, where you will get Joe six-pack and the single inner-city mom agreeing. They would like to see a little bigger share of the pie and you know, the rent is too damn high.“

He noted that the debate around taxes had changed significantly since the time he ran for president, The Times reported.

Obama’s remarks come as the current slate of Democratic candidates propose a variety of higher taxes on the rich, including imposing new ones on capital gains and other Wall Street transactions.

And Sens. Elizabeth Warren and Bernie Sanders have laid out plans to implement a wealth tax in the United States that would hit the accumulated fortunes of the richest US taxpayers.

Business Insider previously reported that Barack Obama’s current net worth is $40 million. Since leaving the White House, the Obama family have enjoyed a lucrative life with book deals worth at least $60 million, one of which produced a bestselling memoir from former First Lady Michelle Obama.

They also signed a Netflix production deal last year estimated to be $50 million, according to the New York Post.

As a former president, Obama earns an annual pension of around $200,000, and he’s made hundreds of thousands more from speaking engagements around the world.

Assuming the $40 million net worth, Obama would be exempted from the Warren wealth tax plan, which starts with a 2% levy on net worths above $50 million. But he wouldn’t be spared from the Sanders tax, which begins at fortunes above $32 million at a 1% margin.