At Davos, billionaire Michael Dell claimed that a 70% income tax on the rich has never worked.
The ignorance displayed by the One Percent is only matched by their supreme indifference to anyone’s well-being other than their own.
When I was growing up in the 1950s, the US had a top marginal 91% tax rate. With President Nixon, top rate was 70%.
The 1950s were prosperous years, a striking contrast for our parents who endured the Great Depression. I had the idea that taxes in Great Britain were also high and they had prosperity as well.
See the story here.