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.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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