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'Over 90 percent?' Liberals eyeing White House vie for title of highest tax raiser
Washington Times ^ | January 10, 2019 | Gabriella Muņoz

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 it’s time the wealthy be tapped for their “fair share.”

(Excerpt) Read more at washingtontimes.com ...


TOPICS: Politics/Elections
KEYWORDS: 2020; potus; taxes
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What a kubaki theater. Most of the people these Leftists want to target earn the vast majority of their income from non-wage sources: interest, dividends, and capital gains. How about a meaningful discussion about taxing all sources of income equally instead of this current system of people earning non-wage income getting massive tax benefits relative to wage earners.
1 posted on 01/11/2019 6:57:48 AM PST by C19fan
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To: C19fan

Taxed
Enough
Already


2 posted on 01/11/2019 6:58:52 AM PST by BenLurkin (The above is not a statement of fact. It is either satire or opinion. Or both)
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To: C19fan

Aren’t we lucky....our very own Castro.....


3 posted on 01/11/2019 6:59:12 AM PST by Lurkinanloomin (Natural Born Citizen Means Born Here of Citizen Parents__Know Islam, No Peace - No Islam, Know Peace)
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To: C19fan

These high-taxers could sorely use some advice from Walter Mondale.


4 posted on 01/11/2019 7:00:04 AM PST by C210N (Republicans sign check fronts; 'Rats sign check backs.)
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To: C210N

Well he’s still alive, so they could ask him.


5 posted on 01/11/2019 7:00:46 AM PST by Buckeye McFrog
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To: C19fan

Absolutely. Some (maybe all) Socialist countries tax ‘accumulated wealth’, not just income. Welcome to Britain in the 60’s.

‘Should 5% appear too small
Be thankful I don’t take it all’
Taxman-the Beatles


6 posted on 01/11/2019 7:01:10 AM PST by originalbuckeye ('In a time of universal deceit, telling the truth is a revolutionary act'- George Orwell)
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To: C19fan

Why not 110%? You would give that for your sports team, wouldn’t you?


7 posted on 01/11/2019 7:02:07 AM PST by thoughtomator (Nobody is coming to save the day)
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To: C19fan

How about a meaningful discussion about eliminating the income tax?


8 posted on 01/11/2019 7:02:31 AM PST by Nuc 1.1 (Nuc 1 Liberals aren't Patriots. Remember 1789!)
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To: C19fan
As democrats try to out liberal each other by degrading our freedom and touting socialism, this election cycle should provide a great learning experience if people will listen and we can come up with a way to take advantage of it.

If I were in front of a class room I'd be making current events a focus of discussion throughout the school year.

9 posted on 01/11/2019 7:02:53 AM PST by Baynative ("A man is not old until regrets take the place of dreams." - John Barrymore)
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To: thoughtomator

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.


10 posted on 01/11/2019 7:03:37 AM PST by C19fan
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To: C19fan

Isn’t it funny how these “Progressives” never define what they consider wealthy?


11 posted on 01/11/2019 7:07:19 AM PST by twoputt
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To: BenLurkin

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!


12 posted on 01/11/2019 7:08:00 AM PST by susannah59
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To: C19fan

They forget that previous high marginal rates were offset by very favorable deductions that were mostly ended by Reagan’s tax reform. Under the old system I was paying zero in taxes due to depreciation on rental property. After Reagan’s reform I was paying taxes. Most interest was also deductible.


13 posted on 01/11/2019 7:11:16 AM PST by Oldexpat (Jobs Not Mobs)
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To: twoputt

Hillary said over $250,000/year. The Slimes disagreed....

https://www.nytimes.com/2015/12/28/opinion/campaign-stops/250000-a-year-is-not-middle-class.html


14 posted on 01/11/2019 7:12:45 AM PST by BenLurkin (The above is not a statement of fact. It is either satire or opinion. Or both)
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To: C19fan

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


15 posted on 01/11/2019 7:13:30 AM PST by ronnie raygun (nic dip.com)
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To: Nuc 1.1

Yes!

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.


16 posted on 01/11/2019 7:14:11 AM PST by susannah59
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To: C19fan

Bookmark


17 posted on 01/11/2019 7:18:25 AM PST by aquila48
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To: thoughtomator

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.


18 posted on 01/11/2019 7:18:39 AM PST by SoCal Pubbie
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To: C19fan

Those rates are confiscation, not taxes.


19 posted on 01/11/2019 7:20:45 AM PST by I want the USA back (Lying Media: willing and eager allies of the hate-America left.)
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To: originalbuckeye

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.


20 posted on 01/11/2019 7:22:24 AM PST by Buckeye McFrog
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