Skip to comments.'Over 90 percent?' Liberals eyeing White House vie for title of highest tax raiser
Posted on 01/11/2019 6:57:48 AM PST by C19fan
Democrats eyeing bids for the White House also are competing to see who is willing to go the highest in raising taxes.
Rep. Alexandria Ocasio-Cortez, a New York liberal who is too young constitutionally to become president, nevertheless set a benchmark when she suggested in a 60 Minutes interview Sunday that rates for the wealthy could top out at up to 70 percent.
Julian Castro, an Obama administration Cabinet official who has announced a testing-the-waters presidential committee, quickly jumped on the bandwagon by telling ABC News that its time the wealthy be tapped for their fair share.
(Excerpt) Read more at washingtontimes.com ...
Aren’t we lucky....our very own Castro.....
These high-taxers could sorely use some advice from Walter Mondale.
Well he’s still alive, so they could ask him.
Absolutely. Some (maybe all) Socialist countries tax accumulated wealth, not just income. Welcome to Britain in the 60s.
Should 5% appear too small
Be thankful I dont take it all
Why not 110%? You would give that for your sports team, wouldn’t you?
How about a meaningful discussion about eliminating the income tax?
If I were in front of a class room I'd be making current events a focus of discussion throughout the school year.
In states like NY these proposals to jack up the Federal marginal tax rate combined with the high city and state income taxes might actually push marginal rates to 100% or more.
Isn’t it funny how these “Progressives” never define what they consider wealthy?
Aren’t we just, though!
They’ll also talk about “taxing corporations” though anyone who gives it 30 seconds’ thought realizes that “corporate taxes” are simply passed on to the consumer. Most people don’t give it that much thought, and it sounds good- punish those big bad corporations!
Over the years I’ve had conversations with numerous people where I have pointed out a couple of things: one, corporations HAVE to make profits to stay in business (would you work for free?) and two, corporations don’t pay taxes, they pass those costs along (see my first point).
Watching the light dawn and people’s expressions change when they grasp the truth is gratifying!
They forget that previous high marginal rates were offset by very favorable deductions that were mostly ended by Reagans tax reform. Under the old system I was paying zero in taxes due to depreciation on rental property. After Reagans reform I was paying taxes. Most interest was also deductible.
Hillary said over $250,000/year. The Slimes disagreed....
Thankfully we know who and what they are because of their big mouths, problem is we have a media and a party that are stroking the masses into believing we are the enemy
I personally favor a sales tax, instead.
The beauty of a sales tax is that it doesn’t matter what the source of the income is, everyone is taxed based on what they spend. If you’re the bank president, you’re taxed on what you spend. If you got your money from robbing the bank, guess what? You still pay taxes!
All sorts of people who currently don’t pay taxes would pay them. Drug dealers, embezzlers, prostitutes, congresscritters, whoever, all get taxed on the basis of their spending.
Exempt food and prescription medications to make it more “fair.”
Can I think of ways people would get around paying sales taxes?Sure. I don’t think any tax plan is going to be cheat-proof, however.
I posted on another thread that your rhetorical question actually makes perfect sense to a SJW. Since the idea is to have the wealthy pay their fair share, then it would be right to correct past imbalances as well as those going forward. Think of it as reparations taken from the evil capitalist exploiters.
Those rates are confiscation, not taxes.
In my experience most Millenials have bought into the line that corporations and wealthy individuals “aren’t paying their fair share”.
Once again the public schools are paying HUGE dividends for the Left.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.