Michael Dell on 70% Tax Rate: "I feel much more comfortable with our ability as a private foundation to allocate those funds than I do giving them to the government."

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Posted on Friday, January 25th, 2019, 10:11 AM PERMALINK

Alexandria Ocasio-Cortez recently suggested imposing a whack 70 percent top marginal income tax rate.

At a Davos Panel on Wednesday, Michael Dell was asked about his thoughts on the proposal. 

Moderator: Michael Dell do you support this?

Dell: Well look, I mean, my wife and I set up a foundation about 20 years ago and we would have contributed quite a bit more than a 70% tax rate on my annual income. I feel much more comfortable with our ability as a private foundation to allocate those funds than I do giving them to the government. So, no. I am not supportive of that and I don’t think it would help the growth of the US economy.

Moderator: That’s interesting. Can you say a little bit more about why you don’t think it would?

Dell: Name a country where that has worked, ever.

 

Photo Credit: Geoff Livingston

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