JAY Z SAYS PRESIDENT OBAMA CAN RAISE HIS TAXES!

Jay-Z has a message for President Obama: Read my lips-- Raise my taxes.

The "Empire State of Mind" rapper says he's fine with a higher bill, provided the money goes towards a good cause.

"I wouldn't mind paying more taxes if it went to the things that really mattered," Jay-Z told CNN. "If it went to education, to people in poverty, if it went to the right things, I wouldn't mind."

Jay-Z, who's real name is Shawn Carter, indicated his support for a tax hike as the President and congressional Republicans duel over competing proposals for extending a payroll-tax cut for working Americans that's set to expire on Jan. 1.

The Obama administration would pay for the extension with higher taxes on families who make $1 million or more. Republicans support the extension but reject any tax increases to pay for it.

Jay-Z, calling for an "open accounting" of where tax dollars go, said he thinks other wealthy people "with a "conscience, with some integrity and moral fiber" would be fine with paying more taxes if they knew exactly where their money was going.

The hip-hop mogul, whose earnings over the past year landed him in the top spot of Forbes magazine's hip-hop's "Cash Kings" for the fourth time in five years, has an estimated net worth of half a billion dollars.

He’s the latest in a line of high-profile, wealthy Americans to call for higher tax rates on the rich.

In August, billionaire philantrhopist Warren Buffett said that he and his super-rich friends should pay more taxes. This fall, Hollywood heartthrob George Clooney told Time magazine that “asking people who have been lucky enough to make a great deal of money to participate more is a patriotic thing to do.”

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