Alexandria Ocasio-Cortez

Alexandria Ocasio-Cortez To Introduce Bill Hiking Top Tax Rate To 59% – Cue Total Freakout

The amount the plan would raise in revenue: More than $2 trillion over ten years, Schakowsky claims. 

The amount the plan would raise in revenue: More than $2 trillion over ten years, Schakowsky claims. 
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2 comments on “Alexandria Ocasio-Cortez To Introduce Bill Hiking Top Tax Rate To 59% – Cue Total Freakout

  1. vicissitude

    In the 1950s and 1960s, when the economy was booming, the wealthiest Americans paid a top income tax rate of 91%.

    The heart of this issue is the way that tax cuts and tax loopholes have been structured to allow wealthy CEO-like characters to take more and more profit in terms of compensation. The simple version is that a long time ago, profit was channeled back-into the corporate structure to allow for greater future growth — but now, profit is much more likely to benefit fewer and ewer people. In the good old days, corporations were forced to use profits in ways that supported their workers, like offering insurance and pensions as well as building more facilities and hiring more people. The old way of taxing corporations resulted in a society that distributed wealth more fairly. So here we are now, with less investment in the future, lower taxes and super wealthy crooks that are no better than the crooks of the Industrial Age.

    I think AOC is way off course and swinging way too radically left, but in-general her theme seems well intended — she seems overly reactive and abrasive, versus displaying a useful way forward.

  2. Obviously God favors the 1% !!

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