AOCs 70% tax idea is stupid
Im a democrat and even borderline extreme left . However saying people would have to pay upto 70’% tax if they are rich is stupid . No one will read that it’s only for 0.5% of population and this shit will get spun by fake news and she will sink the whole left .
It's actually not stupid for very high earners. People, who earn 10m+ should go and start businesses and employ people. Not seat in some monster corp and stash the cash. There is got to be the point when you are too big to work for a boss.
No it’s stupid Walmart. You tax the rich a lot and they will end up leaving the country.
Sure... NYC and CA are taxing, why did not they move to Nebraska?? Following your logic, fly over states would have the richest people. Why not?
please learn how tax brackets work. it is only 70% on the last chunk of income people make after a couple million. there was a more extreme tax rate up there previously in the US.
I think OP's point is that 50% of America wont get it and vote against democrat s
then that's a PR problem not a policy one
Exactly. What people don't seem to grasp is people earning 10m a year have enough flexibility to shift income into something other than ordinary income or defer it. A tax bracket at that level is meaningless.
I so hope that other Dems jump on board...sure path to Republican victory I 2020.
Clearly Microsoft is getting old. A bunch of old farts brain washed with "conservative" ideas. Or their intern grandchildren, who spent all their time with grandma.
People, please learn how marginal tax rates work. Don’t let the GOP propaganda machine spin this on you as a flat 70% tax on the rich.😕
Reality has a strong liberal bias
Yes. It might be a PR issue unless someone comes up with a plan to explain the basic math involved here to the voters. Else, it’s a sinking boat.
Voters understand 70% tax for people making over 10 million. These sort of energizing bold ideas are what we need from Democratic leaders.
They are bold. Yes. But not the whole truth. Why lead with that? Do we really want to mislead the voters and risk sinking the entire ship?
It’s not too complicated, it’s just that liberals are conditioned to loose... but people more to the left, like AOC, are beginning to challenge that passive defeatism. The right will say “70% taxes! Gack, ploop!” But if the Left simply replies: “tax the rich”... it will be very popular in the US among regular people. Part of the reason US official politics have such right-wing bent (despite the population as a whole being fairly progressive) is that liberal politicians tell liberal voters that they will loose unless they pitch their policies in conservative-friendly ways. This is a lie... really the Democrats want to pitch their policies in business-friendly ways, so they act like they are powerless to propose anything left of center.
Yes it will never backfire https://www.dailymail.co.uk/news/article-4932482/amp/Wealth-tax-forces-12-000-millionaires-YEAR-France.html
“The population as a whole being fairly progressive” 😂😂😂😂😂😂😂
Add 13.3% CA state income tax it comes to 83.3%. Rich people might as well just choose to not earn that money.
Ironically the best analysis shows that the optimal maximum marginal rate is in the 73-80+% range. So CA is doing it’s part.
70% *after* making the first 10 fucking million dollars! Why are you defending people who make MORE THAN 10 MILLION DOLLARS PER YEAR!? They don't need defending!
Tax anyone too much and mthey will just leave. And you will end up creating more pressure on the remaining folk
70% marginally income tax is trivial to avoid for wealthy people. It's a populist trick because real tax reform is too technical for the average voter.