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.
(Score: 0) by Anonymous Coward on Sunday February 17 2019, @08:56AM
On the other hand, they worked quite well in the US. A 70% top marginal tax rate would be optimum, with little chance that most rich people would simply move away. The US is also in quite a different position from the UK.