Michael Dell: A 70% tax rate?
“Name a country where that worked. Ever.”
The United States from 1936 to 1980.
Tax rates rose to 79% in 1936, rose up to 94% from ’51 to ’63, and then stayed at 70% or above until 1980. These rates drove us out of the depression and into powerhouse economies. It was not until Reagan crashed the rates into the 30% range that we started accumulating massive debt and income inequality.
High taxes on corporations is the greatest incentive for companies to spend profits to make companies innovate, expand, add employees and compensate fairly. Low taxes just creates massive off-shore accounts and ridiculous individual wealth. It is capitalism at it’s worst.
The lie of “Trickle Down Economics” is how they perpetrated massive wealth inequality to the point that 70% of American families are living paycheck to paycheck without $500 cash for an emergency.
Vote Blue at every level of our governments.
The Heart and Soul of the United States of America is at risk!
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