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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Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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