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Thoughts on Davos

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World Economic Forum [CC BY-SA 2.0]
Hamza Shaban of the Washington Post reports that:

When billionaire chief executive Michael Dell was asked on Wednesday whether he would support a proposal put forth by Rep. Alexandria Ocasio-Cortez (D-N.Y.) to tax millionaires at a 70 percent tax rate on income exceeding $10 million, the audience for a Davos panel about tech and global inequality burst into laughter before he could answer.

Dell, founder and head of Dell Technologies, first responded by saying he’s more comfortable allocating significant resources through his private foundation than handing over that money to the government. But then he answered more directly.

“No, I am not supportive of that, and I don’t think it would help the growth of the U.S. economy,” he said in response to questions from The Washington Post.

When Dell was asked to explain why he thinks that, he said, “Name a country where that’s worked — ever.”

Co-panelist and MIT professor Erik Brynjolfsson jumped in to offer an answer: “the United States.”

This anecdote underscores my general feelings about the World Economic Forum, expressed here in the form of a song.

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