US Lawmakers Raise 70% Of The Rich Tax In Davos Causing Panic: It Is Terrible

The elite financiers at the World Economic Forum in Sidavos are concerned that the proposal by New York Democratic Party Representative Alexandria Ocasio-Cortez to impose a 70% tax rate on wealthy individuals with annual incomes of more than $10 million may become a true policy.

Scott Minerd, chief investment officer of Guggenheim Partners, which manages $265 billion in assets, said in an interview with the media: "This is terrible."

He said that this proposal will gain more momentum before the next presidential election. "I think the possibility of a 70% tax rate becoming a policy is very real," adding that this may have an impact on him personally.

Although both parties in the United States have called for tax increases for the rich, another billionaire financier has dismissed the possibility of achieving this idea. He said that Democrats who are striving for victory in the 2020 election will not go to the left. Go so far. The billionaire who refused to be named said: "This will not happen, believe me."

Democrats are also pessimistic about the opportunity for this proposal to be realized. Glenn Hutchins, the private equity firm Silver Lake Partners and Democrat Gold, said the idea of Judyz is a political gesture and is unlikely to be passed in Congress.

Hutchins said: "In my opinion, it is important not to try to get political scores at a tax rate of 70%. It is important to try to find a tax system that is both fair and effective." "You must let such things happen. The House of Representatives passed, and then must be passed in the Senate, and finally the US President must sign it."