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For Dell's Billionaire CEO, Taxing the Ultra-Rich is a Joke

posted by takyon on Friday February 15 2019, @04:59PM   Printer-friendly
from the marginal-opinion dept.

Arthur T Knackerbracket has found the following story:

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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  • (Score: 2, Disagree) by bzipitidoo on Friday February 15 2019, @06:45PM (3 children)

    by bzipitidoo (4388) on Friday February 15 2019, @06:45PM (#801709) Journal

    That's called deflation, and it's very bad. Most people have debts, things like student loans, home mortgages, car loans, credit card balances. Deflation makes debt bigger. It can be so bad that the debt grows faster than the debtor can pay it off.

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  • (Score: 3, Insightful) by Anonymous Coward on Friday February 15 2019, @06:58PM (2 children)

    by Anonymous Coward on Friday February 15 2019, @06:58PM (#801718)

    Having debt like that in the first place means you fell for a scam. Declare bankruptcy at a time of convenience to get out.

    • (Score: 0) by Anonymous Coward on Friday February 15 2019, @07:33PM (1 child)

      by Anonymous Coward on Friday February 15 2019, @07:33PM (#801732)

      Having debt like that in the first place means you fell for a scam. Declare bankruptcy at a time of convenience to get out.

      https://www.huffpost.com/entry/student-loans-bankruptcy_n_5bedfe4ee4b0510a1f2f1f5e [huffpost.com]

      Good luck with that "convenience"

      • (Score: 0) by Anonymous Coward on Friday February 15 2019, @07:45PM

        by Anonymous Coward on Friday February 15 2019, @07:45PM (#801744)

        So the same person who is apparently an expert into going into debt can't figure out a way to do this? I know people who did. It isn't a difficult puzzle, basically the person needs to just apply how they pay for other stuff to the student loan.