Davos Billionaires Speak about the 70% Tax Rate on Millionaires

https://www.businessinsider.com/wall-street-ken-moelis-scott-minerd-bob-prince-weigh-in-on-proposed-70-marginal-tax-hike-2019-1

This is a bit more substantial than the first remarks reported (laughter), but it still doesn't get to any real solutions.

Several mention that if you tax millionaires making more than $10 million per year with a marginal tax rate of 70%, it wouldn't produce much money and those people might find some way to shelter their money to avoid taxes altogether. They also said you have to begin at the $250,000 - $350,000 income level to raise enough money to have an impact, but that the 70% rate would crush the economy. Fair enough. So, what tax rate would they suggest could help government eliminate the annual deficit without seriously hurting the economy? There aren't any suggestions mentioned in the article. Perhaps something was mentioned that didn't get reported.

The public won't wait forever for solutions. The Trump supporters are looking for real solutions and a lot of Democrats are looking for blood. It's time for some real substantial sound solutions or we may go off a cliff whether Donald Trump is president or not.