Dell CEO rejects Ocasio-Cortez's tax plan at Davos
Dell CEO Michael Dell tore into Rep. Alexandria Ocasio-Cortez’s (D-N.Y.) proposal to implement a 70 percent marginal tax rate on the nation’s top earners, saying it would not help the U.S. economy grow.
“My wife and I set up a foundation about 20 years ago and we would have contributed quite a bit more than a 70 percent tax rate on my annual income. And I feel much more comfortable with our ability as a private donation to allocate those funds than I do giving them to the government,” he said Wednesday at the Davos Economic Forum.
“So no, I’m not supportive to that and I don’t think it would help the growth of the U.S. economy.”
Ocasio-Cortez sparked widespread debate when she floated the idea earlier this month, with even the most progressive members of Congress avoiding voicing support for the 70 percent rate while agreeing that the top income earner should pay more taxes.
Rep. Pramila Jayapal (D-Wash.), a co-chairwoman of the Congressional Progressive Caucus, said she thinks “the fact that people are not paying their fair share is a problem and the millionaires and billionaires are the ones where that has to rest.”
“My view is one that there are better ways of getting to the revenue” than a 70-percent tax on high incomes, Rep. Ro Khanna (D-Calif.), the vice chairman of the Congressional Progressive Caucus, said.
https://thehill.com/policy/finance/domestic-taxes/426695-dell-ceo-rejects-ocasio-cortezs-tax-plan-at-davos
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