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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: 5, Insightful) by Phoenix666 on Friday February 15 2019, @08:19PM (1 child)

    by Phoenix666 (552) on Friday February 15 2019, @08:19PM (#801760) Journal

    We need a tax structure designed to re-launch real capitalism and innovation in the West. Crony "capitalism," aka what we have now, destroys as thoroughly as the socialism the Cortez woman wants.

    We do not need Bill Gates and Jeff Bezos and their ilk to have billions of dollars. We need to give incentives to entrepreneurs to bring new goods and services to market. Doing that is hard, because there are so many aspects to cover; government should get off the backs of the startups and stop helping the behemoths to strangle their competition in the cradle.

    But we can't ever make a system like that happen now, under the auspices of the current system. The status quo is thoroughly locked down by those who want to stifle innovation and strangle humanity's collective genius. A sea change, a revolution, is a necessary prerequisite to human economic progress.

    --
    Washington DC delenda est.
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  • (Score: 0) by Anonymous Coward on Friday February 15 2019, @08:26PM

    by Anonymous Coward on Friday February 15 2019, @08:26PM (#801766)

    Oligopolies usually kill innovation, competition, and choice.