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Alexandria Ocasio-Cortez Suggests 60, 70 Percent Tax Rate For The Rich To Pay For 'Green New Deal Rate Topic: -----

#1 User is offline   Liz 

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  Posted 04 January 2019 - 06:51 PM

Alexandria Ocasio-Cortez Suggests 60, 70 Percent Tax Rate For The Rich To Pay For 'Green New Deal

Washington Examiner
by Katelyn Caralle
January 04, 2019 11:39 AM

Excerpt:

Freshman congresswoman Alexandria Ocasio-Cortez, D-N.Y., suggested that the highest earners in America should pay tax rates of 60 to 70 percent to help pay to fight climate change.

“People are going to have to start paying their fair share in taxes,” Ocasio-Cortez told "60 Minutes" in an interview that will air Sunday. “[O]nce you get to, like, the tippy tops – on your 10 millionth dollar– sometimes you see tax rates as high as 60 or 70 percent. That doesn't mean all $10 million are taxed at an extremely high rate, but it means that as you climb up this ladder you should be contributing more.”

Few rookie members of Congress have put such bold ideas on the national agenda and stirred up as much controversy as Alexandria Ocasio-Cortez who supports a #GreenNewDeal and says, “only radicals have changed this country.” https://t.co/2EBVY5OWLh pic.twitter.com/KihXYpC6eS

— 60 Minutes (@60Minutes) January 4, 2019

*snip*

Full Article
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#2 User is offline   Ticked@TinselTown 

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Posted 04 January 2019 - 07:12 PM

I hate to remind Obscenely Confused of this, but she is on track with the committees she's trying to get onto so that she, too, will be a top earner...
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#3 User is online   Taggart Transcontinental 

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Posted 04 January 2019 - 07:14 PM

Yeah bold ideas like theft of property through government threat. Bold like the days of yore. Marxism is just another form of feudalism. In the end those in power seize what they want and leave you with the crumbs.
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#4 User is online   zurg 

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Posted 04 January 2019 - 07:22 PM

That’s absurdly high, no-cortex.

But first, define what you mean by taxing someone. What exactly are you taxing? Is it W2? Is it 1099-B or -DIV or -INT or -MISC or some of the other forms? Or is it Schedule-C reporting? How about being a principal in a Foundation, or having an irrevocable trust that is the owner of a Foundation?

How about organizing oneself as an LLC or even S-Corp, and using that to earn income and buy properties?

How are you going to get someone making $20M in income to cough up $7M from the second $10M? And probably $5M from the first $10M?

How much of an idiot are you, Ms no-cortex?
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#5 User is offline   tailgunner 

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Posted 04 January 2019 - 07:41 PM

Thank god there's no rich dems that will have to pay that.
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#6 User is online   Rock N' Roll Right Winger 

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Posted 04 January 2019 - 09:18 PM

View Posttailgunner, on 04 January 2019 - 07:41 PM, said:

Thank god there's no rich dems that will have to pay that.

:biglaugh: :high5:
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#7 User is offline   Ben Cranklin 

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Posted 04 January 2019 - 11:36 PM

“...like, the tippy tops...” :rolleyes:
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#8 User is offline   grimreefer 

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Posted 04 January 2019 - 11:56 PM

Quote

People are going to have to start paying their fair share in taxes

I agree 100%, but as usual with the leftistas, she seems to be forgetting a rather large portion of the population.


Bring on the flat tax.
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#9 User is offline   Censport 

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Posted 04 January 2019 - 11:59 PM

View PostBen Cranklin, on 04 January 2019 - 11:36 PM, said:

“...like, the tippy tops...” :rolleyes:

I was driving home from work in heavy traffic, listening to Phil Valentine, when I heard that clip. Good thing I was already driving slowly, as I couldn't help but laugh my butt off.

How long until she reveals this is just a first step, and she really wants a 100%+ tax rate for the rich? Only for those in the private sector, naturally.

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#10 User is offline   RedSoloCup 

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Posted 05 January 2019 - 05:06 AM

She Guevera has to pay for her apartment somehow.
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#11 User is offline   ASE 

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Posted 05 January 2019 - 12:40 PM

The problem is not the lack of sufficient tax revenue - the problem is lack of spending restraint.
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#12 User is offline   grimreefer 

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Posted 06 January 2019 - 12:58 AM



:rofl: :2up:

This post has been edited by grimreefer: 06 January 2019 - 12:59 AM

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#13 User is offline   GrimV 

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Posted 06 January 2019 - 02:20 AM

Let's check in with the Sophisticated Europeans™ to see how they're coping with new tax increases: Rioting engulfs Paris as anger grows over high taxes
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#14 User is offline   JerryL 

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Posted 06 January 2019 - 02:34 AM

View PostGrimV, on 06 January 2019 - 02:20 AM, said:

Let's check in with the Sophisticated Europeans™ to see how they're coping with new tax increases: Rioting engulfs Paris as anger grows over high taxes

It has been interesting watching the yellow vests run up and down our street with police chasing them and firing tear gas. I saw a guy throw a road flare in a car and a mob loot our local grocery store.

The usual suspects...anarchists, deadbeat kids, hooligans, etc...flocked to the movement and mob mentality took over.

$7/gal gas. 20% tax on everything you buy (5.5% food). 14% income tax over $10k/year and 30% once you hit $30k/year.

American leftists want all the euro-social crap but refuse to admit that everyone has to pay for it. The “rich” can’t foot the bill.

This post has been edited by JerryL: 06 January 2019 - 02:34 AM

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#15 User is offline   AntiObama 

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Posted 06 January 2019 - 01:54 PM

tippy top
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#16 User is online   zurg 

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Posted 06 January 2019 - 03:35 PM

View PostJerryL, on 06 January 2019 - 02:34 AM, said:

It has been interesting watching the yellow vests run up and down our street with police chasing them and firing tear gas. I saw a guy throw a road flare in a car and a mob loot our local grocery store.

The usual suspects...anarchists, deadbeat kids, hooligans, etc...flocked to the movement and mob mentality took over.

$7/gal gas. 20% tax on everything you buy (5.5% food). 14% income tax over $10k/year and 30% once you hit $30k/year.

American leftists want all the euro-social crap but refuse to admit that everyone has to pay for it. The “rich” can’t foot the bill.

Yup yup yup. That’s where they’re steering the ship.

Who has a better life, the poor in America or the poor in Europe? I wonder if AOC has the fortitude to find out. For real, that is.
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#17 User is offline   Natural Selection 

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Posted 06 January 2019 - 05:46 PM

View PostLiz, on 04 January 2019 - 06:51 PM, said:

Alexandria Ocasio-Cortez Suggests 60, 70 Percent Tax Rate For The Rich To Pay For 'Green New Deal


Has she done the math? Exactly how much money would that bring in? I don't think she knows. If you're a leftist it just feels good to take money from the people you envy.

Does she know that billionaires don't have billions of taxable income every year? Most of their wealth is in stocks and they don't pay taxes on stocks until they sell them. Jeff Bezos, the richest person in the world with a net worth over $100 billion, probably pays taxes on less than $50 million per year. The rest of his wealth is sitting in shares of Amazon stock that doesn't get taxed until he sells them. Raising taxes on high income earners would likely hit entertainers and professional athletes harder than guys like Jeff Bezos and Bill Gates. That would backfire on the democrats in a big way.
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#18 User is online   zurg 

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Posted 06 January 2019 - 07:23 PM

View PostNatural Selection, on 06 January 2019 - 05:46 PM, said:

Has she done the math? Exactly how much money would that bring in? I don't think she knows. If you're a leftist it just feels good to take money from the people you envy.

Does she know that billionaires don't have billions of taxable income every year? Most of their wealth is in stocks and they don't pay taxes on stocks until they sell them. Jeff Bezos, the richest person in the world with a net worth over $100 billion, probably pays taxes on less than $50 million per year. The rest of his wealth is sitting in shares of Amazon stock that doesn't get taxed until he sells them. Raising taxes on high income earners would likely hit entertainers and professional athletes harder than guys like Jeff Bezos and Bill Gates. That would backfire on the democrats in a big way.

Also, Bezos will exercise his options by buying them first and then waiting a year for long term capital gains to kick in. And he’s probably got some trusts and a foundation in the way should someone wish to sue him.
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