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At the recent World Economic Forum in Davos, Switzerland, a panel moderator asked Michael Dell, America's 17th-richest man, what he thought about the idea of raising the top marginal tax rate to 70 percent.
This idea has been in the headlines since Rep. Alexandria Ocasio-Cortez floated it in a 60 Minutes interview on January 6 as a way to pay for a Green New Deal.
The Davos panel found the question hilarious. When the laughing died down, Dell, the founder and CEO of Dell Technologies, dismissed the idea out of hand, claiming it would harm U.S. economic growth.
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For Dell's Billionaire CEO, Taxing the Ultra-Rich is a Joke
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You are a fluke of the universe; you have no right to be here.
(Score: 5, Informative) by Thexalon on Friday February 15 2019, @06:26PM
Except that what actually happens is that the company who has been lying like crazy to the government says to the investigator in one of their many wine-and-dine sessions something along these lines: "We really appreciate the diligence and thoroughness of your efforts to investigate us. How about you come work for us as a regulatory compliance consultant for 7 figures instead of 5? Plenty of flexibility you can't get as a government bureaucrat - we're totally fine with you taking time during the day to take care of your kids or something, and you'll have no need to worry about job security. All we ask in return is that you go ahead and find that what we're doing is A-OK."
If they don't bite, they make a similar pitch to the person further up their food chain with the power to kill the subordinate's investigation, and so on until somebody decides to be bought off. This is now common enough that a lot of the people we have working in government enforcement arms are looking for evidence not to generate indictments but to push their targets into precisely this kind of job offer. Especially when we have, as is not infrequent, people running the regulatory agencies who want to ensure that those agencies fail to do their job.
Oh, and this is all legal.
The only thing that stops a bad guy with a compiler is a good guy with a compiler.