Posted on 01/19/2019 12:30:00 PM PST by BlackFemaleArmyColonel
Earlier this month, Alexandria Ocasio-Cortez went on national television and said that the United States should tax incomes above $10 million at a 70 percent rate.
In response, some centrist pundits pronounced the Democratic Party dead by political suicide: National Journal reporter Josh Kraushaar argued that, while congresswoman Rashida Tlaib’s profane call for Trump’s impeachment was getting more attention, Ocasio-Cortez “calling for a 70 percent tax rate on the nation’s most-watched news show a whole lot more politically damaging for Ds.”
There was never much evidence for this assessment. In public opinion polls, raising taxes on the rich consistently ranks as one of the most popular ideas in American politics. Moreover, political-science research suggests that the American people’s resentment of the wealthy is bitter and deep — and, in the not-too-distant past, Democrats succeeded in leveraging such resentment for political gain.
Meanwhile, as far as plans for class war go, Ocasio-Cortez’s was more “Jimmy Carter” than “Jacobin.” As recently as 1980, the U.S. taxed all incomes above $216,000 (or $658,213 in today’s dollars) at 70 percent rate. And recent research on optimal taxation has suggested that the ideal top marginal rate might be closer to 80 percent.
These facts led certain bloggers to describe the congresswoman’s idea as a “moderate policy.” And now, a new poll has confirmed that such bloggers are, in fact, profoundly wise.
Over the weekend, pollsters from the Hill–HarrisX asked voters, “Would you favor or oppose a tax proposal that would apply a 70% rate to the 10 millionth dollar and beyond for individuals making $10 million a year or more in reportable income?” — and 59 percent said yes.
(Excerpt) Read more at nymag.com ...
Only about 2,000 people in America make over $10mm a year.
Many are TV/movie stars and pro athletes.
People are probably saying, what the hell, sock it to them.
Funny, polls don’t mean squat when it comes to the border.
I thought they didn’t matter any longer...
Not even listed in the rcp average.
Yep. Just as long as you don’t touch theirs.
Which they think will never happen.
It just goes to show how many morons exist in what’s left of America these days.
It’s time to tax the poor at 70% as well. They use the services, they need to pay for them. Watch them all become conservatives in 15 seconds.
The super rich support the Democrats now.. so you can soak them as far as I’m concerned. Give them what they want.
The GOP needs to take care of their new constituency.... the middle class.
70% of the respondents to this survey are morons.
This is to distract from the border. It will probably work.
Because everything on the internet is true...
Well guess what! The people who would not be hit by this tax want it to hit other people big! Tax the other guy, not me. The “rich” are few in number, and including them in the poll would not change the outcome much.
But before long, bracket creep sets in, as was intended, and the tax hits the ordinary person who has himself to blame.
Democracy is great, until the people realize they can vote themselves money.
The only people who approve of taxing the rich at 70% are those too dumb or lazy to ever achieve anything in their lives. Envy is an ugly thing.
They're all for it thinking someone else will foot the tax bill. Then the fine print hits, and just like the last time, the "millionaires" tax suddenly applies to someone making $250K.
The country has always been filled with jealous idiots who want everything with committing the effort to get it.
Taken on the Berkley campus. Must be true.
People are almost always willing to tax “the rich” if they are the ones who will benefit.
There it would be but nationally no.
I don’t buy it for a minute.
Shore they do
Until they win the 10 million dollar lotto!!
A tax needs to be levied against those who vote to tax other people (except me).
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