AOC wants 70% tax on wealthy

Sangre Naranjada said:
paper money will become all but worthless
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Exactly! Watch for the interest rates on debt to sky rocket just prior and interest rates for money held in bank savings to go up. That's when you'll need to accumulate portable wealth. A dollar won't be worth the paper its printed on. I paid off all debt I had outstanding several years back.
 
BevoJoe said:
Most election of the Congress folks seem to be more of a "beauty contest" and not about what actual skills and knowledge the candidates actually possess.
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BevoJoe, it's unfortunate to have to admit that you're right. It would be nice to have some Congressmen who actually know something - instead we wind up with the likes of AOC.
 
Well at least AOC gives zero F about push back from other Dems in Congress.
While I agree with her I wonder if she has thought that through.That should go well for her.
 
I agree with nearly all the criticisms of AOC. Of course, most of those same criticisms on style/strategy can be levied at our POTUS which leaves me befuddled.
 
Exactly! Watch for the interest rates on debt to sky rocket just prior and interest rates for money held in bank savings to go up. That's when you'll need to accumulate portable wealth. A dollar won't be worth the paper its printed on. I paid off all debt I had outstanding several years back.
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When interest rates go up, the failure of a dollar goes up because the monetary system essentially removes dollars from the system.

Higher interest rates will make it harder to finance debt because you will have to pay more dollars into the bank. That is actually one way the money supply shrinks or rate of increase slows down.

So you are right and wrong. Right on the severity of paying off debt but incorrect on the value of a dollar.
 
Lay off. She is the face of the Democrat party. I think it should change to Socialistcrat party though.
 
70% tax on the "wealthy", you say.

Universal definition of "wealthy" = somebody who makes 20% more than you.
 
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Speaking of Marxists and socialists, did anyone have Dr. Dan Morgan for economics at The University--a real live socialist/Marxist? He was a very nice and personable man who cared about undergrad students, but he wasn't just a left wing liberal, he was a flat out socialist and wouldn't hesitate to say so. He used to stop his normal lectures and go on loud rants in class about how 'You kids these days think Reagan was so great, well let me tell you a thing or two, blah, blah, blah...' (late '80s/early '90s).

Seemingly every university has a token Marxist or two in the economics department (and many closet, and not closet, Marxists spread among the Humanities fields).
 
The problem with starting fights with the rich is that they have way more resources than you. This may end bad for AOC and her ilk.

Who do you think rights the laws and influences those who do? The wealthy. She is on here way to being a limousine liberal don't worry.
 
Bernie getting back to his Communist roots.

I read one of the means Communists used to bring about their utopia was to confiscate estate wealth.
 
Monahorns said:
I read one of the means Communists used to bring about their utopia was to confiscate estate wealth.
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Communists will confiscate whatever wealth they can get their hands on, until nobody is left who is generating any wealth at all, because they are all living at bare subsistence levels and trying their best to avoid starvation.
 
They seem to be in a race to see who will be the first to propose a 100% tax. The chick who married her brother wants 90%. And then, who knows, 110%? It will never be enough



Let me tell you how it will be
There's one for you, nineteen for me
'Cause I'm the taxman
Yeah, I'm the taxman

Should five percent appear too small
Be thankful I don't take it all
'Cause I'm the taxman
Yeah, I'm the taxman

(If you drive a car car) I'll tax the street
(If you try to sit sit) I'll tax your seat
(If you get too cold cold) I'll tax the heat
(If you take a walk walk) I'll tax your feet​
 
The Dems should offer Maduro citizenship and run him for President. Would be a much more efficient demise of our country.
 
Behold the AOC Paradox --

Alexandra Ocasio-Cortez, "a system that allows for the creation of billionaires is immoral"

The same person, when asked how will she pay for free tuition, free medical, etc, "tax the billionaires".​
 
Mr. Deez said:
Of course, she's an idiot. NFL owners won't pay 70 percent either. They will structure their money to avoid it. It's not hard.
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Gee, I wonder if any of the loud talking wealthy Congress people calling for higher taxes on the "rich" do that with their own money.
 
horninchicago said:
Gee, I wonder if any of the loud talking wealthy Congress people calling for higher taxes on the "rich" do that with their own money.
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Absolutely, they do. Members of Congress don't have a particularly high salary (about $174K). That's the part of their income that is hardest to shield from taxes. Most of them make the bulk of their money on the side - family money, a small business of some kind, shady investments, etc. Well, you can play all kinds of games with those kinds of income. That's why a guy like Warren Buffett pays a lower tax rate than his secretary.
 
Mr. Deez said:
Absolutely, they do. Members of Congress don't have a particularly high salary (about $174K). That's the part of their income that is hardest to shield from taxes. Most of them make the bulk of their money on the side - family money, a small business of some kind, shady investments, etc. Well, you can play all kinds of games with those kinds of income. That's why a guy like Warren Buffett pays a lower tax rate than his secretary.
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I know. I was being facetious.
 
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