BREAKING: Davos Billionaires Hate High Taxes

Here is today’s least surprising headline:

According to the Washington Post, Michael Dell was asked if he supported a 70 percent tax rate on income over $10 million. However, the audience “burst into laughter” before he could answer.

Eventually the answer turned out to be—wait for it—no! And all the other billionaires hated the idea too! Imagine that. However, this was not—not not not—because they are  greedy and want to keep all their money. Heavens no. Scott Minerd, chief investment officer of Guggenheim Partners, explained: “It affects the people that have the most money, and they will start allocating capital in a way that is less efficient and will bring down productivity.”

So you see, low tax rates on the rich benefit us all.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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