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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: 1) by khallow on Saturday February 16 2019, @12:37AM

    by khallow (3766) Subscriber Badge on Saturday February 16 2019, @12:37AM (#801863) Journal

    Naysayers still mock and say that the wealthy will simply move their money and operations elsewhere. It's an empty threat.

    The empty threat has been going on for a while. This study [bbc.com] says $21 trillion in various tax havens, including places in the US. I think it's pointless to talk tough when rich people have been rocking your strategy for a century or more.

    "China!" you say?

    You do realize that a huge portion of US business has already been there, done that.