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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDell CEO rejects Ocasio-Cortez's tax plan at Davos
Dell CEO Michael Dell tore into Rep. Alexandria Ocasio-Cortezs (D-N.Y.) proposal to implement a 70 percent marginal tax rate on the nations 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, Im not supportive to that and I dont 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
guillaumeb
(42,641 posts)would be King Michael Dell would prefer to act as the lord of the land, distributing his charity to the serfs.
Wellstone ruled
(34,661 posts)She is getting someones attention,keep it up.
htuttle
(23,738 posts)Not.
I don't think anyone expects billionaires to just hand it over willingly. That's not how they amassed billions.
For every Michael Dell or Bill Gates, there are twenty Martin Shkrelis or Donald Trumps who don't give anything away, and usually prey on the week to get that money to begin with.
dlk
(11,572 posts)No doubt it would be the end of the world.
HipChick
(25,485 posts)Pobeka
(4,999 posts)Charity is a write-off. Unless, the foundation, is not actually a charity but another business investment.
Voltaire2
(13,079 posts)Hotler
(11,428 posts)nothing has been thrown on the table. It's good to make them squirm a bit.
David__77
(23,423 posts)...
brooklynite
(94,624 posts)Response to brooklynite (Reply #11)
David__77 This message was self-deleted by its author.
flotsam
(3,268 posts)How many roads and bridges have you built? Payed for any municipal internet upgrades? How much have you donated for WIC or SNAP benefits? See, the arts are great and charities are swell but we just found out most Americans can't afford a $400 emergency because of economic inequality. And unless you want to pass large checks to every American we have to end some of the inequality by getting the money from places where there is plenty.
smirkymonkey
(63,221 posts)Fuck them. Of course they would never agree with it. That is why we have to force it upon them.
superpatriotman
(6,249 posts)Has been for years
roamer65
(36,745 posts)Bettie
(16,111 posts)Alert the media! It is NEW INFORMATION!
Oh, wait, no, it isn't. Rich dudes don't like to pay taxes and his foundation would be money that is written off of his taxes anyway.