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There is a precedent. She isn't proposing anything new.
The Middle Class and most of America's infrastructure was built on 70% and above. It wasn't until Ronald Reagan took office and started the redistribution of wealth from the Middle Class to the 1% that things went South.
This is just communism. It didn't work in Russia and it's not going to work here. Taxing the rich 70% just makes them on the same level as the poor. There's no incentive to work or better yourself in that situation because you'll still be on the same level as the people who would rather sit on the couch and eat potato chips all day. This would just create a nation of perpetual poverty with no hope of escape.
This is just communism. It didn't work in Russia and it's not going to work here. Taxing the rich 70% just makes them on the same level as the poor. There's no incentive to work or better yourself in that situation because you'll still be on the same level as the people who would rather sit on the couch and eat potato chips all day. This would just create a nation of perpetual poverty with no hope of escape.
Hardly. What it does is bring CEO pay back in line, and forces business into a choice of pay the employees more, expand the business, or pay it in taxes.
The CEO of the last company I worked for made $11 million per year, not counting bonuses. That's $200,000 a week. 30% of that is $60,000 a week - hardly puts them n the same level as the poor.
There is a precedent. She isn't proposing anything new.
The Middle Class and most of America's infrastructure was built on 70% and above. It wasn't until Ronald Reagan took office and started the redistribution of wealth from the Middle Class to the 1% that things went South.
You don't understand the difference between the top tax bracket and effective tax rates.
After loopholes studies show that the rich paid only slightly more in taxes under a 91% tax bracket than they do today.
I don't blame you for repeating BS with all of the loud voices spouting the nonsense. Alexandria Ocascio Cortez isn't probably even lying, she comes off as sincere, but a clueless dolt.
Quote:
Originally Posted by agnostic soldier
This is just communism. It didn't work in Russia and it's not going to work here. Taxing the rich 70% just makes them on the same level as the poor. There's no incentive to work or better yourself in that situation because you'll still be on the same level as the people who would rather sit on the couch and eat potato chips all day. This would just create a nation of perpetual poverty with no hope of escape.
If we get a 70% tax bracket on income over $10 million it would not be communism.
Communism is where all goods are collectively owned and people take what they need, etc...
Ronald Reagan once noted that he worked in Hollywood during the 91% top rate era. He said that actors/actresses would tend to make only a small number of movies each year, and spend the rest of the year sitting around the Brown Derby restaurant talking about oil deals and tax shelters. If you're only making 9 cents on the dollar, why go to work?
Hmmmm....in any other situation you'd say how stupid those liberal left-coast actors are! Fact is, the economy was just fine, never collapsed under 70% and even a 90% top tax bracket.
There is a precedent. She isn't proposing anything new.
The Middle Class and most of America's infrastructure was built on 70% and above. It wasn't until Ronald Reagan took office and started the redistribution of wealth from the Middle Class to the 1% that things went South.
You don't understand the difference between the top tax bracket and effective tax rates.
After loopholes studies show that the rich paid only slightly more in taxes under a 91% tax bracket than they do today.
I don't blame you for repeating BS with all of the loud voices spouting the nonsense. Alexandria Ocascio Cortez isn't probably even lying, she comes off as sincere, but a clueless dolt.
If we get a 70% tax bracket on income over $10 million it would not be communism.
Communism is where all goods are collectively owned and people take what they need, etc...
There are eight white families that own 93% of all the wealth in this country.
Let them pay to maintain it, since they are the beneficiaries of it.
The 70 percent tax bracket only counts on income over 10 million after loopholes.
Most celebrities would be under it or not much over it. If she were more legit, she'd target that crowd too.
LOL. Anyone making that kind of money knows how to maneuver and use "the tax law" to minimize their tax liability. It's called tax efficiency. That's why the rich don't care about taxation on "income". They pay tax attorneys to guide them to work within the tax law to minimize their tax liability. She hasn't figured that out wow!
I wonder when people will learn this.
Last edited by petch751; 01-07-2019 at 11:37 PM..
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