Monday , June 14 2021

Challenging proposition – multi-billionaire Michael Dell, how about a 70% tax? – News



70% taxes for the super rich. Earlier in January, MEP Alexandria Occasio-Cortez made a radical proposal in an interview – now the World Economic Forum in Davos is discussing it.

The podium on January 23 is actually about how digitization gains can be beneficial to everyone. Then Michael Dell, founder of the American computer manufacturer Dell, was asked whether he supported the idea of ​​a property tax. Loud laughter in the hall.

Give me a country she has ever worked for.

After all, he says he will rather spend his money on the common good instead of giving it to the government, with the help of the foundation he and his wife founded. "That means no, I do not support the idea." In fact, Dell has already donated $ 1.5 billion to needy children.

At the podium, the developer adds that he does not think that such a tax would be beneficial to the US economy. – Give me a country she's ever worked for.

The answer comes from another participant on the podium. "In the US," says Eric Brinolfsson. Between the 1930s and 1960s the average tax rate was 70%. – And these were good years for American growth.

He thinks it deserves to look at this proposal in more detail. Surveys show that such a tax rate does not necessarily have to harm the economy.

The tax rate is even 94%

President Herbert Hoover lifted the highest tax rate to 63% in 1932 when government revenue collapsed after the 1929 stock market crash in the Great Depression. Under his successor Franklin D. Roosevelt, this percentage even rose by 94%. However, since these tax rates were only for super-rich, they only affect a few.

Michael Dell
Legend:

Michael Dell, founder of Dell's computer maker, has about $ 31.6 billion, according to Forbes.

Reuters

Also, the proposal of MP Alexandria Occasio-Cortez aims at overweight with an annual income of over $ 10 million. In her words: "The Supreme Ball".


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