You go Girl! Alexandria Ocasio-Cortez Plans Bill to Boost Top Individual Tax Rate to 59%

[skews13]

The democrat party is stumbling toward socialism on a massive scale

But they will need total control of congress and the white house to make it happen

And they are far from that

So we were socialists from the end of WW2 until the 70's with the largest middle class in history, with upper rates at 90%?

Yeah. Harry Truman, and Dwight Eisenhower, Socialists at large.

 

[Ray From Cleveland]

Repeat much, Or just need practice spelling?

I'm perplexed as to why you're so adamantly opposed to raising taxes on wealthy people.

Where do you think the wealthy people get the money to pay those taxes?

If you think they just dig deeper into their pockets, or do with one less yacht, then you've been listening to the commies way too long. Why do you suppose we have the most thriving economy in decades? How do you suppose we broke records in minority and female unemployment? Why are more and more getting off of food stamps and back to work?

The big guys never pay those taxes. They all get passed down to us little people, either by the price of their products or services increasing, a wage freeze or higher health insurance contributions from their workers, or hiring freezes.

"If you want more of something, subsidize it. If you want less of something, tax it."
Ronald Reagan

The taxes being proposed by AOC prevent them from doing just that

It hits billionaires in the pockets

How would it prevent them from doing that? What's government going to do, force industry into a price freeze for their products or services? Perhaps create law that they must provide wage increases even if they no longer have the resources to provide for those increases? Please walk me through the dynamics of that.

Well....let’s start by returning tax rates on the wealthy to where they were before we started this supply side lunacy

We also need to move away from just income tax. The super wealthy will take very little income. They are compensated through stock options and other dodges that grow wealth but don’t count as income

I’d like to see a minimal sales tax on all stock and real estate transactions. This way, when they move their money around, they are taxed on it

Also tax capital gains at the same rate as personal income taxes

For crying out loud, even Bill Clinton cut capital gains taxes. You can't discourage investors from investing. Higher taxes will do that. The rich will always look for the lowest taxed investments they can make. The reason capital gains taxes are that low is to support a strong market.

So you think our job creators will do better and treat their employees better with a 70% income tax rate?

 

[Crepitus]

Bloomberg ^ | November 15, 2019

No excerpt from Bloomberg allowed, story here. She wants a 59% top income tax rate and to tax unrealized capital gains yearly, including real estate and business holdings.

REMEMBER VOTE DEMONRAT SO YOU CAN GO BROKE AND HAVE TO GIVE YOUR HOUSE TO AN ILLEGAL INVADER, OR MUSLIM TERRORIST!

That's about 10% too low.

 

[SweetTea]

Repeat much, Or just need practice spelling?

I'm perplexed as to why you're so adamantly opposed to raising taxes on wealthy people.

Where do you think the wealthy people get the money to pay those taxes?

If you think they just dig deeper into their pockets, or do with one less yacht, then you've been listening to the commies way too long. Why do you suppose we have the most thriving economy in decades? How do you suppose we broke records in minority and female unemployment? Why are more and more getting off of food stamps and back to work?

The big guys never pay those taxes. They all get passed down to us little people, either by the price of their products or services increasing, a wage freeze or higher health insurance contributions from their workers, or hiring freezes.

"If you want more of something, subsidize it. If you want less of something, tax it."
Ronald Reagan

The taxes being proposed by AOC prevent them from doing just that

It hits billionaires in the pockets

How would it prevent them from doing that? What's government going to do, force industry into a price freeze for their products or services? Perhaps create law that they must provide wage increases even if they no longer have the resources to provide for those increases? Please walk me through the dynamics of that.

Well....let’s start by returning tax rates on the wealthy to where they were before we started this supply side lunacy

We also need to move away from just income tax. The super wealthy will take very little income. They are compensated through stock options and other dodges that grow wealth but don’t count as income

I’d like to see a minimal sales tax on all stock and real estate transactions. This way, when they move their money around, they are taxed on it

Also tax capital gains at the same rate as personal income taxes

You guys still don't get that the wealthy, with their huge investments, are what help this country. It is why 50% have money in the stock markets. Pensions are paid through investments in the markets. When the stock market goes down, everything goes down. The markets will go way down if you discourage investment. That is a no brainer. You guys are fighting for the 50% of people who have nothing in the market, have little understanding of economics and have very little if anything to lose from any of these leftist policies because they don't have any skin in the game...they don't pay income or capitial gains taxes.

 

[Paulie]

Bloomberg ^ | November 15, 2019

No excerpt from Bloomberg allowed, story here. She wants a 59% top income tax rate and to tax unrealized capital gains yearly, including real estate and business holdings.

REMEMBER VOTE DEMONRAT SO YOU CAN GO BROKE AND HAVE TO GIVE YOUR HOUSE TO AN ILLEGAL INVADER, OR MUSLIM TERRORIST!

Tax unrealized capital gains lol. Wait til all the homeowners see that every year they’re going to pay a tax on the increase in their property’s value whether or not they’ve even sold the property

 

[SweetTea]

Bloomberg ^ | November 15, 2019

No excerpt from Bloomberg allowed, story here. She wants a 59% top income tax rate and to tax unrealized capital gains yearly, including real estate and business holdings.

REMEMBER VOTE DEMONRAT SO YOU CAN GO BROKE AND HAVE TO GIVE YOUR HOUSE TO AN ILLEGAL INVADER, OR MUSLIM TERRORIST!

That's about 10% too low.

Sheer ignorance.

 

[Grumblenuts]

People with the financial IQ's to create and maintain billion dollar nest eggs, they don't get there by hoarding their money away in a vault. The only time the money of a super wealthy individual lays dormant is if said individual doesn't see any opportunity to turn that money into more money. Want the rich to invest more? Stop disincentivizing investment.

Waltons, Heirs of WalMart Founder. All worth 50+ Billion.
Rob , Alice , Jim each over 70 years old and living in mansions.
These people pay most of their employees a minimum wages, and many have to work multiple jobs.
This is NOT ok.

Microsoft paid their employees.
Even the Janitors that started out with Microsoft are millionaires today.
This is what Capitalism is or should be.
Allen and Gates could have paid the Janitors minimum wages, but they didn't, and
they still were the richest men in the world.

From what I can tell, Microsoft gave all the employees stock options early on. They held the options long enough and were fortunate that Microsoft did well. No indication they were paid more than the going rate otherwise. This hero worship of billionaires like Gates and Allen is completely misapplied. Both did nothing extraordinary. They had extraordinary luck and greed is all. Both could just as easily have failed like most everyone else. Like these alleged janitors, both happened to be in the right place at the right time. Both are and were assholes. Many determined assholes just like them hanging around here daily. Doing nothing special. Punching down and occasionally sideways like assholes always do.

 

[Ray From Cleveland]

I'm perplexed as to why you're so adamantly opposed to raising taxes on wealthy people.

Where do you think the wealthy people get the money to pay those taxes?

If you think they just dig deeper into their pockets, or do with one less yacht, then you've been listening to the commies way too long. Why do you suppose we have the most thriving economy in decades? How do you suppose we broke records in minority and female unemployment? Why are more and more getting off of food stamps and back to work?

The big guys never pay those taxes. They all get passed down to us little people, either by the price of their products or services increasing, a wage freeze or higher health insurance contributions from their workers, or hiring freezes.

"If you want more of something, subsidize it. If you want less of something, tax it."
Ronald Reagan

The taxes being proposed by AOC prevent them from doing just that

It hits billionaires in the pockets

How would it prevent them from doing that? What's government going to do, force industry into a price freeze for their products or services? Perhaps create law that they must provide wage increases even if they no longer have the resources to provide for those increases? Please walk me through the dynamics of that.

Well....let’s start by returning tax rates on the wealthy to where they were before we started this supply side lunacy

We also need to move away from just income tax. The super wealthy will take very little income. They are compensated through stock options and other dodges that grow wealth but don’t count as income

I’d like to see a minimal sales tax on all stock and real estate transactions. This way, when they move their money around, they are taxed on it

Also tax capital gains at the same rate as personal income taxes

You guys still don't get that the wealthy, with their huge investments, are what help this country. It is why 50% have money in the stock markets. Pensions are paid through investments in the markets. When the stock market goes down, everything goes down. The markets will go way down if you discourage investment. That is a no brainer. You guys are fighting for the 50% of people who have nothing in the market, have little understanding of economics and have very little if anything to lose from any of these leftist policies because they don't have any skin in the game...they don't pay income or capitial gains taxes.

That's because it's all a dog and pony show. Even Democrats know of the devastating economical affects of such a huge increase. If Trump loses and the Democrats take over the Senate too, watch how they would drop this idea like a hot potato. It's just to make their voters feel good.

 

[JWBooth]

Bloomberg ^ | November 15, 2019

No excerpt from Bloomberg allowed, story here. She wants a 59% top income tax rate and to tax unrealized capital gains yearly, including real estate and business holdings.

REMEMBER VOTE DEMONRAT SO YOU CAN GO BROKE AND HAVE TO GIVE YOUR HOUSE TO AN ILLEGAL INVADER, OR MUSLIM TERRORIST!

Hell of an idea. She absolutely ought to cry out from the rooftops with this notion.

 

[hadit]

Bloomberg ^ | November 15, 2019

No excerpt from Bloomberg allowed, story here. She wants a 59% top income tax rate and to tax unrealized capital gains yearly, including real estate and business holdings.

REMEMBER VOTE DEMONRAT SO YOU CAN GO BROKE AND HAVE TO GIVE YOUR HOUSE TO AN ILLEGAL INVADER, OR MUSLIM TERRORIST!

That ***** knows what she is doing
Long overdue

Also tax Capital Gains at the same rate as personal income

That's when you'll lose the billionaires claiming to be for higher income taxes.

Oh no!

We don’t want to hurt the feelings of billionaires

And when billionaires don't want Washington to do something, what do you think they do?

Hint, it starts with a phone call to their favorite bought and paid for democrat, who inserts language into a bill establishing a loophole.

 

[hadit]

You don't get it.

The rich will simply move their money elsewhere. Again, France tried this, and there was a mass exodus from the country. You are just going to have them move their wealthy out of the country. Just like Venezuela, or Cuba, or any other country that has tried it.

And it is theft. It just is. Taking something that other people rightfully earned, when it is not yours.... is theft. Just like if I climbed into your car and drove off... it is theft.

Even if you deny that, it doesn't change the fact that your system doesn't work.

Where are the rich going to move their monies?

Wherever they get taxed less, maybe to other countries out of the reach of greedy liberals. Just like the yacht tax decimated the American yacht industry because the rich simply bought foreign built yachts, the wealthy will not sit still and let you or anyone take their wealth.

Liberals never seem to realize that human nature always makes tax schemes generate less than they're projected to, because people protect what they've earned.

Where are the rich going to move their monies?

Anywhere. Doesn't matter where. Anywhere would be better, than being under the tax system that AOC just proposed. Canada, UK, Australia, Germany, Finland even. Anywhere.

A wealth tax, will make anywhere in the entire world, preferable to here. If I have $200 Million to spend on a vacation home.... that home in the US is going to be taxed, and elsewhere it will not. I'm not talking property tax, that everyone pays... but a tax on the unrealized capital gain. No where else does that, although France tried it and repealed it because it was a huge failure.

So anywhere else, is going to be preferable to here, under AOC's system.

The Rich are not going anywhere and there will still be plenty of loopholes. But there will be enough -also taxing giant corporations, to give us less inequality and more upward Mobility again...

No, there will never be enough tax money to satisfy democrats' desire to spend. Never.

 

[hadit]

Where are the rich going to move their monies?

Wherever they get taxed less, maybe to other countries out of the reach of greedy liberals. Just like the yacht tax decimated the American yacht industry because the rich simply bought foreign built yachts, the wealthy will not sit still and let you or anyone take their wealth.

Liberals never seem to realize that human nature always makes tax schemes generate less than they're projected to, because people protect what they've earned.

Where are the rich going to move their monies?

Anywhere. Doesn't matter where. Anywhere would be better, than being under the tax system that AOC just proposed. Canada, UK, Australia, Germany, Finland even. Anywhere.

A wealth tax, will make anywhere in the entire world, preferable to here. If I have $200 Million to spend on a vacation home.... that home in the US is going to be taxed, and elsewhere it will not. I'm not talking property tax, that everyone pays... but a tax on the unrealized capital gain. No where else does that, although France tried it and repealed it because it was a huge failure.

So anywhere else, is going to be preferable to here, under AOC's system.

The Rich are not going anywhere and there will still be plenty of loopholes. But there will be enough -also taxing giant corporations, to give us less inequality and more upward Mobility again...

And we should have more regulation to go after people hiding money offshore....

You can try. Then the people themselves move.

 

[hadit]

Bloomberg ^ | November 15, 2019

No excerpt from Bloomberg allowed, story here. She wants a 59% top income tax rate and to tax unrealized capital gains yearly, including real estate and business holdings.

REMEMBER VOTE DEMONRAT SO YOU CAN GO BROKE AND HAVE TO GIVE YOUR HOUSE TO AN ILLEGAL INVADER, OR MUSLIM TERRORIST!

What are her plans for a constitutional amendment to make double taxation lawful? Does she think she has the votes in the House and Senate to pull that off?

We have a House that's wasting months of time on trying to get rid of a President they have no ability to remove. They are proposing idiotic bills that either unaffordable or will ruin the economy, that they know they could never pass.

When are these Democrats going to start using their time more productively? Or are we just paying them for these dog and pony shows?

Every other modern country can afford it, why not the richest country of all? Brainwashed functional morons....

Most can "afford" it because Uncle Sam pays for their defense.

 

[Snouter]

Democrats don't want taxes to "spend." They want taxes to attack and "legally" steal assets from White people.

 

[JustAGuy1]

LOL, 59% and you progs think that's a "winning" campaign strategy?
You are "special".

You know it doesn’t effect trumpscum, right?

Your deflection is noted.

 

[rightwinger]

Bloomberg ^ | November 15, 2019

No excerpt from Bloomberg allowed, story here. She wants a 59% top income tax rate and to tax unrealized capital gains yearly, including real estate and business holdings.

REMEMBER VOTE DEMONRAT SO YOU CAN GO BROKE AND HAVE TO GIVE YOUR HOUSE TO AN ILLEGAL INVADER, OR MUSLIM TERRORIST!

That ***** knows what she is doing
Long overdue

Also tax Capital Gains at the same rate as personal income

She knows what she's doing? You mean the same woman that didn't know what a garbage disposal was???

I'm a truck driver, and I know more than she does. I learned many years ago that the reason capital gains taxes are low is to encourage investments: investments in business, investments in the stock market, investments in real estate, investments period.

So how would one discourage investments? Do precisely what you and dingbat support. There goes our stock market with all our IRA money. There goes business expansion and hiring. There goes home purchases and other real estate investments. And of course, there goes our thriving economy.

Bull shit

The reason capital gains are so low is because the mega wealthy want them that way. They have to put their money somewhere. Time to make he wealthy cough up

If I earn $50,000 digging ditches and you earn $50,000 moving money from one investment to another, I shouldn’t be the one paying more taxes

 

[Ray From Cleveland]

Bloomberg ^ | November 15, 2019

No excerpt from Bloomberg allowed, story here. She wants a 59% top income tax rate and to tax unrealized capital gains yearly, including real estate and business holdings.

REMEMBER VOTE DEMONRAT SO YOU CAN GO BROKE AND HAVE TO GIVE YOUR HOUSE TO AN ILLEGAL INVADER, OR MUSLIM TERRORIST!

That ***** knows what she is doing
Long overdue

Also tax Capital Gains at the same rate as personal income

She knows what she's doing? You mean the same woman that didn't know what a garbage disposal was???

I'm a truck driver, and I know more than she does. I learned many years ago that the reason capital gains taxes are low is to encourage investments: investments in business, investments in the stock market, investments in real estate, investments period.

So how would one discourage investments? Do precisely what you and dingbat support. There goes our stock market with all our IRA money. There goes business expansion and hiring. There goes home purchases and other real estate investments. And of course, there goes our thriving economy.

Bull shit

The reason capital gains are so low is because the mega wealthy want them that way. They have to put their money somewhere. Time to make he wealthy cough up

If I earn $50,000 digging ditches and you earn $50,000 moving money from one investment to another, I shouldn’t be the one paying more taxes

It doesn't matter if it's billionaires or individuals, the government can't discourage investment in this country. It's the stupidest thing they could do. I'm going to be retiring in a few years, and when I do, I want my IRA to be at it's peak point. I don't want government taking money out of the market.

If you are making 50K digging ditches, then you aren't paying much into income tax anyway. Most of your taxes consist of SS, Medicare, State and local taxes.

 

[rightwinger]

I'm perplexed as to why you're so adamantly opposed to raising taxes on wealthy people.

Where do you think the wealthy people get the money to pay those taxes?

If you think they just dig deeper into their pockets, or do with one less yacht, then you've been listening to the commies way too long. Why do you suppose we have the most thriving economy in decades? How do you suppose we broke records in minority and female unemployment? Why are more and more getting off of food stamps and back to work?

The big guys never pay those taxes. They all get passed down to us little people, either by the price of their products or services increasing, a wage freeze or higher health insurance contributions from their workers, or hiring freezes.

"If you want more of something, subsidize it. If you want less of something, tax it."
Ronald Reagan

The taxes being proposed by AOC prevent them from doing just that

It hits billionaires in the pockets

How would it prevent them from doing that? What's government going to do, force industry into a price freeze for their products or services? Perhaps create law that they must provide wage increases even if they no longer have the resources to provide for those increases? Please walk me through the dynamics of that.

Well....let’s start by returning tax rates on the wealthy to where they were before we started this supply side lunacy

We also need to move away from just income tax. The super wealthy will take very little income. They are compensated through stock options and other dodges that grow wealth but don’t count as income

I’d like to see a minimal sales tax on all stock and real estate transactions. This way, when they move their money around, they are taxed on it

Also tax capital gains at the same rate as personal income taxes

You guys still don't get that the wealthy, with their huge investments, are what help this country. It is why 50% have money in the stock markets. Pensions are paid through investments in the markets. When the stock market goes down, everything goes down. The markets will go way down if you discourage investment. That is a no brainer. You guys are fighting for the 50% of people who have nothing in the market, have little understanding of economics and have very little if anything to lose from any of these leftist policies because they don't have any skin in the game...they don't pay income or capitial gains taxes.

Markets are now the wealthy obtain wealth without being required to pay taxes. Put a small fee on each transaction. Brokers do it, why not the government.

That 50 percent of the population has 2/10 of a percent of the wealth. They are the ones working their whole lives for little gain. They are the ones generating wealth but receiving very little

 

[rightwinger]

Bloomberg ^ | November 15, 2019

No excerpt from Bloomberg allowed, story here. She wants a 59% top income tax rate and to tax unrealized capital gains yearly, including real estate and business holdings.

REMEMBER VOTE DEMONRAT SO YOU CAN GO BROKE AND HAVE TO GIVE YOUR HOUSE TO AN ILLEGAL INVADER, OR MUSLIM TERRORIST!

That ***** knows what she is doing
Long overdue

Also tax Capital Gains at the same rate as personal income

She knows what she's doing? You mean the same woman that didn't know what a garbage disposal was???

I'm a truck driver, and I know more than she does. I learned many years ago that the reason capital gains taxes are low is to encourage investments: investments in business, investments in the stock market, investments in real estate, investments period.

So how would one discourage investments? Do precisely what you and dingbat support. There goes our stock market with all our IRA money. There goes business expansion and hiring. There goes home purchases and other real estate investments. And of course, there goes our thriving economy.

Bull shit

The reason capital gains are so low is because the mega wealthy want them that way. They have to put their money somewhere. Time to make he wealthy cough up

If I earn $50,000 digging ditches and you earn $50,000 moving money from one investment to another, I shouldn’t be the one paying more taxes

It doesn't matter if it's billionaires or individuals, the government can't discourage investment in this country. It's the stupidest thing they could do. I'm going to be retiring in a few years, and when I do, I want my IRA to be at it's peak point. I don't want government taking money out of the market.

If you are making 50K digging ditches, then you aren't paying much into income tax anyway. Most of your taxes consist of SS, Medicare, State and local taxes.

Taxing at the same rate as you tax labor does not discourage investment any more than it discourages performing labor

 

[Ray From Cleveland]

Bloomberg ^ | November 15, 2019

No excerpt from Bloomberg allowed, story here. She wants a 59% top income tax rate and to tax unrealized capital gains yearly, including real estate and business holdings.

REMEMBER VOTE DEMONRAT SO YOU CAN GO BROKE AND HAVE TO GIVE YOUR HOUSE TO AN ILLEGAL INVADER, OR MUSLIM TERRORIST!

That ***** knows what she is doing
Long overdue

Also tax Capital Gains at the same rate as personal income

She knows what she's doing? You mean the same woman that didn't know what a garbage disposal was???

I'm a truck driver, and I know more than she does. I learned many years ago that the reason capital gains taxes are low is to encourage investments: investments in business, investments in the stock market, investments in real estate, investments period.

So how would one discourage investments? Do precisely what you and dingbat support. There goes our stock market with all our IRA money. There goes business expansion and hiring. There goes home purchases and other real estate investments. And of course, there goes our thriving economy.

Bull shit

The reason capital gains are so low is because the mega wealthy want them that way. They have to put their money somewhere. Time to make he wealthy cough up

If I earn $50,000 digging ditches and you earn $50,000 moving money from one investment to another, I shouldn’t be the one paying more taxes

It doesn't matter if it's billionaires or individuals, the government can't discourage investment in this country. It's the stupidest thing they could do. I'm going to be retiring in a few years, and when I do, I want my IRA to be at it's peak point. I don't want government taking money out of the market.

If you are making 50K digging ditches, then you aren't paying much into income tax anyway. Most of your taxes consist of SS, Medicare, State and local taxes.

Taxing at the same rate as you tax labor does not discourage investment any more than it discourages performing labor

Sure it does, because when you labor, you are guaranteed pay and there are no risks. You have to labor either for yourself, or a company, but you need to produce income.

When you invest, it's a risk. Most small businesses close up within the first five years. Others that remain open struggle for the next couple. If taxes create a problem for you, then you're better off getting out of the market and investing in tax free bonds. It's almost guaranteed profit, you don't have to spend time watching it every day, and of course, very little risk. You earn less, but if taxes in the market are going to cause you to earn less anyway, then your money is better off in safe investments.