The One Percent and Their Ignorance

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.

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